SBI general meeting to go virtual on June 17, shareholders to cast e-votes

The general meeting can be conducted via a video conference or Other Audio-Visual Means (OAVM) as per Sebi order

The country’s largest lender, State Bank of India, will conduct a virtual meeting of shareholders on June 17, to enable them to elect four directors to its central board.

As per market regulator Sebi’s order, the general meeting can be conducted virtually via a video conference or Other Audio-Visual Means (OAVM). The bank proposes to hold an election for four directors via e-voting by shareholders, SBI said in statement.

The virtual meeting is being organised following requests from various stakeholders in view of the Covid-19 lockdown restrictions.

Shareholders will be allowed to e-vote for electing the directors as per the provisions of the SBI Act and SBI General Regulations, 1955.

The Bank has avoided physical meetings for major events the past few months, for the well-being of all stakeholders and in compliance with the lockdown restrictions, it added.

SBI is making conscious and continuous efforts to ensure social distancing for stakeholders.

The bank is also providing convenient digital banking services to customers to conduct banking transactions from the safety/convenience of their home, it said.