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English Release 29-August 2014
Date Month Year
  • President's Secretariat
  • President presents Sports and Adventure Awards
  • Prime Minister's Office
  • PM greets people on the occasion of Samvatsari
  • PM's Departure Statement ahead of his visit to Japan
  • PM pays tribute to legendary hockey player Dhyan Chand; congratulates award-winning sportspersons
  • PM greets people on Ganesh Chaturthi
  • Min of Agriculture
  • Kharif Sowing Crosses 966 Lakh Hectare Mark
  • Min of Civil Aviation
  • Air India Day Felicitates its Employees
  • Ministry of Finance
  • Finance Ministry: Performance of the Economy in the First Quarter of the Financial Year 2014-15 ss Broadly on Expected Lines
  • 1,84,68,000 Accounts Opened in more than 70000 Camps Under Pradhan Mantri Jan-Dhan Yojana ; Banks to hold such Camps on Weekly Basis, from 8 am to 8 pm on all saturdays to Achieve the Target of Covering Unbanked Households well in Time
  • India Signs Loan Agreements with World Bank for IDA Assistance of US $ 107 Million for Second Mizoram State Roads Project
  • Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified
  • India’s External Debt: A Status Report 2013-14 Released; India’s External Debt Stock Stood at US$ 440.6 Billion at end-March 2014, Increasing by US$ 31.2 Billion (7.6 per cent) Over the Level at end-March 2013
  • Min of Health and Family Welfare
  • 887 passengers being tracked for Ebola Virus Disease
  • Integrated trauma support service on anvil
  • Exclusivity of Central Government Health Scheme to be phased out
  • Min of Home Affairs
  • India-Israel Bilateral Cooperation
  • Shri O.P. Singh assigned additional charge of DG, NDRF
  • National Seminar on Promoting Peace and Harmony
  • New Interlocutor for Naga Peace Talks
  • Min of Labour & Employment
  • National Consultative Workshop on “Industry-Career Centre –ITI Collaboration” organized
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh Felicitates UPSC recommended IAS Candidates
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 101.07 per bbl on 28.08.2014
  • Min of Shipping
  • Delegation of Powers to States for Registration, Survey and Certification of Fishing Vessels
  • Min of Statistics & Programme Implementation
  • Estimates of Gross Domestic Product for the First Quarter (April-June) of 2014-15
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on August 28, 2014
  • Min of Youth Affairs & Sports
  • President Confers National Sports Awards – 2014
  • Full Text of the Speech of Sarbananda Sonowal at a Function to Celebrate the National Sports Day
  • Text of Speech of Sarbananda Sonowal at the National Consultation Workshop on ‘Industry- Career Centre- ITI Collaboration’

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.

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

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