At meeting held on 18 August 2016
State Bank of Bikaner and Jaipur announced that the Board of Directors of the Bank at the meeting held on 18 August 2016 has approved the Scheme of Acquisition for the acquisition of the State Bank of Bikaner and Jaipur by the State Bank of India. The Scheme of Acquisition, which is subject to approval of the Reserve Bank of India and the Central Government is attached.Schemes provides for allotment of 28 equity shares of Rs. 1/- each of the State Bank of India for every 10 equity share of Rs. 10/- each of the State Bank of Bikaner and Jaipur.
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