INDIA: SBI ASSOCIATES MAY SLASH SHARE FACE VALUE TO RS.(State Bank of India)(Brief Article) IPR Strategic Business Information Database | September 21, 2004 | COPYRIGHT 2004 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright

According to "Business Standard", the State Bank of India (SBI) has moved the finance ministry's banking division to reduce the face value of the equity shares of SBI's associate banks from Rs 100 to Rs 10 or less. This can be done if the finance ministry agrees to amend the SBI Subsidiary Act. The proposal to bring down the face value to Rs 10 is seen by the market as a prelude to SBI's associates ...

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