RBI asked SBI to amend MoA before granting nod to arm
Mint Mumbai|January 04, 2023
The Reserve Bank of India (RBI) directed State Bank of India (SBI) to delete or amend more than 10 clauses in its original memorandum of association for setting up a subsidiary to provide operational support services to the country's largest lender before approving the proposal, according to a document reviewed by Mint.
Shayan Ghosh
RBI asked SBI to amend MoA before granting nod to arm

RBI's approval letter to SBI chairman Dinesh Khara on 30 June stated that the subsidiary, State Bank Operations Support Services Pvt. Ltd, with an equity investment of up to 10 crore, should not engage in any new activity without prior approval, and any changes to its equity or business structure or nature would also require the regulator's approval.

As part of the approval process, RBI asked SBI to make changes to its memorandum of association, a document defining the purpose and role of a firm.

この記事は Mint Mumbai の January 04, 2023 版に掲載されています。

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この記事は Mint Mumbai の January 04, 2023 版に掲載されています。

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