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English Release 1-August 2014
Date Month Year
  • President's Secretariat
  • President congratulates medal winners in Commonwealth Games
  • Prime Minister's Office
  • PM encourages self-certification in place of affidavits and attestations to benefit the common man
  • U.S. Secretary of State John Kerry and U.S. Secretary of Commerce Penny Pritzker call on PM
  • Former cricketer Anil Kumble calls on PM
  • Min of Agriculture
  • Kharif Sowing Area Crosses 706 Lakh Hectare
  • Steps to Make Farming More Profitable
  • Setting up of National Fisheries Development Board
  • Encouraging Farmers to Use Improved Technology for Cultivation of Cotton
  • Min of Chemicals and Fertilizers
  • Essential Medicines Prices
  • Min of Commerce & Industry
  • Capital Investment Subsidy under NEIIPP
  • Sick/Closed Industrial Units
  • National Design Policy
  • Export Market for Grapes
  • Ban on Import of Products By EU
  • Export/Import of Gems/Jewellery
  • Tea Export
  • Export Target
  • Setting up of Special Board of Spices
  • Min of Consumer Affairs, Food & Public Distribution
  • About 81.35 Crore People to Get Subsidised Foodgrains Under National Food Security Act
  • Food Subsidy Estimated to be Around Rs. 1,31,086 Crore
  • The Steps to Expedite Payment of Pending Dues to Sugarcane Farmers
  • Transportation of PDS Foodgrains Through Sea Route to Ensure Timely Availability
  • Min of Corporate Affairs
  • Unclaimed Investment Fund with Companies
  • Lacunae in Company Laws
  • Min of Defence
  • Defence Offset Policy
  • Naval Warships and Submarines
  • Tailing of Patrols in Border Areas
  • Encroachment of Defence Land
  • Election for Cantonment Boards
  • Amount Due to IAF
  • Maritime Exercise
  • IAF Jaguar Aircraft Crashes
  • Procurement of Fighter Aircraft
  • Arrest of Somalian Pirates
  • Infrastructural Developments in Border Areas
  • Projects of HAL
  • Naval Exercises
  • Procurement of Helicopters
  • Astra and Akash Missiles
  • Defence Production Units
  • Bird-Hits to Military Aircraft
  • Sale of Tobacco Products in Defence Canteens
  • One Rank One Pension
  • Married Accommodation Project
  • Min of Earth Science
  • India Deploys its First Sub-Surface Ocean Moored Observatory in the Arctic
  • Ministry of Finance
  • Transparency in Lending Loans Under Floating Rate Scheme
  • Corporate Employers Encourage to Join National Pension System for Corporates for Providing Pension Benefits to their Employees
  • Utilisation of Accumulated Pension Wealth on exit from the National Pension System for Corporates
  • Sampoorn Vittiya Samaveshan Mission to be Launched Soon to Provide all Households with Banking Services
  • RBI Issues Guidelines for Opening of Bank Accounts of Children
  • Manufacturing of Debit Cards, Credit Cards and other Cards in India
  • Printing of Currency Notes with Braille Signs to Assist Visibly Challenged Persons
  • Compensation by Insurance Companies
  • SBI Launches Six of Digital Branches
  • BRICS Development Bank to be set up to Support Infrastructure and Sustainable Development Projects among others
  • Sanctioned and Acutal Strength of Employees in Central Government; 30,84,530 Civilian Employees in Position
  • Small Saving Schemes for the benefit of all including Weaker Sections of Society
  • No Foreclosure Charges by NBFCS on all Floating Term Loans to Individual Borrowers
  • Infrastructure Trust Funds to be set up to Spur Investments
  • Min of Food Processing Industries
  • Mega Food Parks
  • Setting up of Food Processing Units
  • Increasing Capacity of Cold Chain Infrastructure
  • Min of Health and Family Welfare
  • Recognition of Ayush Colleges
  • Multimedia Campagins for Awareness and Prevention Regarding HIV/Aids
  • Findings from NFHS-I, II and III

  • 872 National Nutritional Rehabilitation Centres Functional in the Country
  • Global Instrument for Health Research
  • Ill Effects from Use of Oxytocin Injection
  • Setting Up of Satellite Units of AIIMS

  • Autism and Related Disorders
  • Medical Colleges Can Now be Set up in Two Pieces of Land
  • Use of Antibiotics
  • ICMR: No Conclusive Data on Effects of Mobile Phone/Tower on Health
  • Enforcement of Anti-Tobacco Laws
  • FSSAI Regulations on Packaging and Labelling
  • Pharmacy Colleges in the Country
  • Financial Assistance to Poor
  • Control of Fluorosis
  • Polio Vaccination for Resident Nationals Travelling to India
  • Cancer Care Facilities
  • Min of Home Affairs
  • Text of Home Minister’s Statement on Disaster in Pune
  • Min of Labour & Employment
  • We must judiciously tap into our natural resources and not mindlessly exploit them - Shri Narendra Singh Tomar
  • Min of Minority Affairs
  • Schemes for Upliftment of Minorities
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Diesel Under-Recovery decreased to Rs 1.33/litre for the fortnight commencing 01.08.2014
  • Ministry of Railways
  • PPP Projects under Railways Running on Profit
  • Railways will Run Six More Trains Connecting Shri Mata Vaishno Devi Katra
  • Railways Take Steps to Promote Religious & Historic Tourism in the Country
  • Railways to Develop 10 Major Railway Stations to International Standards
  • Railways to Provide 400 More Escalators at 172 Stations
  • Min of Statistics & Programme Implementation
  • Survey Regarding Employment in Various Sectors
  • Facilitation Centres under MPLAD Scheme
  • Handpumps under MPLAD Scheme
  • Per Capita Expenditure
  • Min of Textiles
  • Closure of Textile Industries
  • Scheme for Integrated Textile Parks
  • Incentive to Jute Industry
  • Target for Export of Readymade Garments
  • Min of Women and Child Development
  • Draft Juvenile Justice (Care and Protection of Children) Bill, 2014 circulated for inter-ministerial consultation
  • Min of Youth Affairs & Sports
  • Minister of Youth Affairs & Sports, Sarbananda Sonowal congratulates Indian medal winners on the 8th day in Commonwealth Games 2014

Previous Date

 
Ministry of Finance29-June, 2007 16:55 IST
Government acquires entire RBI shareholding in SBI
In its biggest ever cash purchase, Government today acquired entire Reserve Bank of India (RBI) shareholding in State Bank of India (SBI) consisting of 31,43,39,200 equity shares with face value of Rs. 10/- each @ Rs. 1130.35 per share at a total amount of Rs. 35,531,33,14,720 (Rupees Thirty five thousand five hundred thirty one crore, thirty three lakhs, fourteen thousand seven hundred twenty). Though, SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, known as Takeover Regulations, per se were not applicable in this transaction, for sake of greater transparency, the valuation of RBI stake in SBI was worked out as per SEBI guidelines taking 28th February, 2007, as the “reference date”, the day on which the decision of the Government to acquire RBI stake in SBI was announced by Finance Minister in his Budget Speech and the intention of the Government to acquire SBI was made public. Government has also decided to acquire RBI shareholding in NABARD and NHB by June, 2008.

The Committee on Banking Sector Reforms (Narasimham Committee II), inter-alia, observed that it is inconsistent with the principles of effective supervision that the regulator is also an owner of a bank and this would require the Reserve Bank of India (RBI) to divest its holding in banks and financial institutions. In its Monetary and Credit Policy for the year 2001-02, RBI announced its intention to transfer the ownership of shares in State Bank of India (SBI), National Housing Bank (NHB) and National Bank for Agriculture and Rural Development (NABARD) in favour of the Government of India. Accordingly, RBI sent a proposal to transfer its shares in these entities to the Government of India. RBI holds 59.73% stake in SBI, 72.50% in NABARD and 100% in NHB.

Finance Minister, in his Budget Speech for the year 2007-08, announced the proposal of the Government to acquire entire stake of RBI in SBI, and provided a sum of Rs. 40,000 crore for transfer of RBI shareholding in SBI to the Government of India. An Ordinance was promulgated to provide requisite statutory provisions in State Bank of India Act, 1955 to facilitate this transaction, and Government appointed 29th June, 2007 the date for transfer of stake.

*****

RP/GN-293/07
(Release ID :28897)

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