At meeting held on 18 August 2016
State Bank of India announced that the Central Board of Directors at its meeting held on 18 August 2016 have accorded their approval to the scheme of acquisition of State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank by State Bank of India, subject to approval of the scheme by the Reserve Bank of India and the Government of India.The scheme provides for allotment of -
a. 28 equity shares of Rs 1 each of State Bank of India for every 10 equity shares of Rs 10 each of State Bank of Bikaner & Jaipur.
b. 22 equity shares of Rs 1 each of State Bank of India for every 10 equity shares of Rs 10 each of State Bank of Mysore.
c. 22 equity shares of Rs 1 each of State Bank of India for every 10 equity shares of Rs 10 each of State Bank of Travancore.
d. 4,42,31,510 of Rs 1 each of State Bank of India for every 100 crore equity shares of Rs 10 each of Bharatiya Mahila Bank .
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