Cabinet approves Ordinance to amend SBI Act

New Delhi, June 15 (UNI) The Union Cabinet today accorded approval for carrying out the amendment to the State Bank of India Act, 1955, to enable the transfer of RBI's shareholding in the Bank to the Central government.

A Bill will be moved in the coming session of Parliament to replace the Ordinance, Minister for Information and Broadcasting Priya Ranjan Dasmunsi told newspersons here while briefing on the outcome of the Cabinet meeting.

UNI