STATE BANK OF INDIA - Central Board approves Reduction in Face Value of Equity Shares (Sub-division of Equity Shares)

State Bank of India has informed BSE that in terms of the provisions of Section 4 of the State Bank of India Act, 1955, the Central Board of the Bank at its meeting held on September 24, 2014 has considered and accorded its approval to the following:-<br/><br/>1. To reduce the face value of equity shares of the Bank from Rs. 10 per share to Rs. 1 per share and to increase the number of issued shares in proportion thereof.<br/><br/>2. To arrange to mirror the reduction in face value of equity shares in existing GDR programme.