As per the MCA/ SEBI relaxations, the GM can be conducted virtually via a VC/ Other Audio-Visual Means(OAVM)
The Bank proposes to conduct election for four Directors via e-voting by the shareholders
Virtual GM being organized following requests from various stakeholders in view of COVID lockdown restrictions
Mumbai, June 10, 2020: Country’s largest lender SBI is set to hold its virtual GM on 17th June 2020 at 3.00 p.m. via Video Conferencing (VC)/Other Audio-Visual Means (OAVM) as per guidelines issued by the Ministry of Corporate Affairs and SEBI. The shareholders will be allowed to e-vote for electing four Directors as per the provisions of the SBI Act and SBI General Regulations, 1955.
The shareholders will be enabled to e-vote for four Directors from the list of five candidates.
Keeping in view the wellbeing of all stakeholders and to comply with the lockdown restrictions, the Bank has avoided physical meetings for major events in the past few months.
SBI is making conscious and continuous efforts to ensure social distancing for all its stakeholders by taking various measures. The bank is also providing convenient digital banking services to all its customers ensuring that they conduct their banking transactions from the safety/convenience of their home and help the nation overcome this pandemic.
About State Bank of India:
State Bank of India (SBI) is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country. As on March 31, 2020, the bank has a deposit base of over Rs. 32 lakh crore with CASA ratio of little more than 45% and advances of nearly Rs. 24 lakh crore. SBI commands nearly 34% market share in home loans and 33% in the auto loans segment. The Bank has the largest network of over 22,000 branches in India with an ATM / CDM network of over 58,000 and total BC outlets of more than 61,000.
The number of customers using internet banking facilities is 73.5 million and mobile banking services stand close to 17 million. The integrated digital and lifestyle platform by SBI – YONO has crossed the landmark of 50 million downloads. YONO which has 23 million registered users, witnesses 5 million logins per day along with over 4000 daily disbursals of personal loans. The bank recently launched the YONO Global app in the UK and Mauritius and plans to cover 9 more countries by the end of 2020. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.