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English Release 18-December 2014
Date Month Year
  • President's Secretariat
  • President of India congratulates ISRO for the successful launch of GSLV-MARK III
  • Prime Minister's Office
  • PM greets the citizens of Qatar on their National Day
  • Prime Minister Congratulates scientists for successful launch of GSLV Mk-III.
  • Department of Space
  • First Experimental Flight of India’s Next Generation Launch Vehicle GSLV MK-III Successful
  • Election Commission
  • Facts at a Glance: Jammu & Kashmir
  • Min for Develop. of North-East Region
  • Separate Time Zone for Ner
  • Min of Chemicals and Fertilizers
  • Government Asserts that Prices of Life Saving Drugs have been Reduced

  • Min of Coal
  • Mines under CIL
  • Steps Proposed by the Government to Reduce Such Huge Imports of Coal
  • Clean Energy Tax
  • Min of Earth Science
  • Cyclone Centres in Various Coastal States
  • Ministry of Finance
  • Amended Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
  • Government of India Signs Agreements with Germany worth Euro 625 Million for Financial Cooperation to Support “Green Energy Corridors (GEC)” Project under Indo German Bilateral Development Cooperation
  • Min of Food Processing Industries
  • Harsimrat Badal Launches ‘Fruits and Vegetable Availability Maps of India’ Report
  • Min of Home Affairs
  • Union Home Minister hopes for cancellation of bail granted to Zaki ur-Rehman Lakhvi
  • Member of U.S. House of Representatives calls on Union Home Minister
  • Min of Labour & Employment
  • Shri Bandaru Dattatreya Chairs Parliamentary Consultative Committee Meeting
  • Min of Micro,Small & Medium Enterprises
  • Use of E-Charkha and E-handloom in production of Khadi
  • Scheme for promoting the MSME sector
  • Steps taken to promote export of Khadi products
  • Loans from Khadi Board and PMEGP
  • Budget for MSME Sector
  • Min of Mines
  • Mineral Production during October 2014
  • Min of New and Renewable Energy
  • Promotion of Solar Energy
  • Renewable Energy Policy
  • Energy Deficiency Issues
  • Electricity from Paddy Husk
  • Biomass Based Power Generation
  • Min of Parliamentary Affairs
  • Shri M. Venkaiah Naidu congratulates ISRO scientists on successful launch of GSLV Mk-III
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointment
  • Views invited for proposals on Civil Services Examination
  • No reduction in retirement age
  • Officers belonging to SC/ST/OBC in All India Services
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Video conferences for review of DBTL in Punjab & Haryana
  • Global crude oil price of Indian Basket was US$ 57.29 per bbl on 17.12.2014
  • Min of Power
  • Upgradation of Delhi’s Power Infrastructure to Begin Tomorrow
  • Components of DDUGJY
  • Energy Efficiency
  • PLF in Thermal Power Sector
  • Investment in Power Sector
  • Government sets up an Independent Government Company-POSOCO for Reforms in Power Sector
  • Ministry of Railways
  • Railway Minister Flags Off New Shatabdi Express Between New Delhi and Bhatinda
  • Min of Road Transport & Highways
  • E- rickshaws a Great Help to Poor People: Shri Nitin Gadkari
  • SUTP Expected to be Complete by November 2015
  • New Transport Application to be Launched on a Common Portal
  • Min of Shipping
  • Process Improvements in Shipping Sector
  • Min of Skill Development and Entrepreneurship
  • Skill Development Centres
  • Suitable Skills for Labour Market
  • Schemes for Women Entrepreneurs
  • Empowering Institutes for Skill Development
  • Report of National Skill Development Corporation
  • Courses for Skill Development
  • Min of Social Justice & Empowerment
  • De-Addiction Centres in Kerala
  • Higher Learning for Deaf Children in Tamil Nadu
  • Welfare Scheme for Differently Abled People
  • Research and development activities for differently-abled people
  • Reservation in Private Sector
  • Encouragement for enrolment of disabled children
  • Abuse of Elderly People
  • Min of Steel
  • Mines & Steel Minister Shri Narendra Singh Tomar Chairs Consultative Committee on Steel
  • Min of Textiles
  • Prices of Cotton
  • Setting up of Technical Training Institutions
  • Promotion of Chanderi Textile Industry
  • Trade Facilitation Centre
  • Min of Urban Development
  • Shri M.Venkaiah Naidu stresses on proper exhibition, showcasing and marketing of renowned brands of India
  • Process of regularization of unauthorized colonies in Delhi extended upto 31.03.2015
  • Swachh Bharat Mission
  • Solid waste management one of the admissible components under Swachh Bharat Mission
  • Status of extension of Metro line to NOIDA Sector 62
  • Ministry of Water Resources
  • Survey on Ground Water
  • Water Quality
  • Construction of Dams along Borders
  • Min of Women and Child Development
  • Measures by Government to protect Child Rights
  • Targeted Interventions to deal with Malnutrition
  • Community based Management Programme for Women & Children
  • Planning Commission
  • AADHAAR ecosystem has provisions to ensure data security
  • Governments’ programmes to ensure inclusive growth

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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