A very good evening to the Experts here. Would someone like to help me by clarifying whether State Bank of India is a Public Financial Institution or not? It conforms with section 4A of the Companies Act, 1956 as it is a body established by the Central Government and secondly the Central Govt. holds more than 50% of the shares in SBI. But is there any other solid documentary evidence regarding this. Like a case law or official gazette or something in writing? Please help as it is very important for me.
2 Replies
Ashwin Kumar
(1234 Points)
Replied 01 September 2017
the point that the central gov holds more than 50% of shares is more than enough to declare it as a public financial institution
Ronald Antony T
(Chartered Accountant)
(31 Points)
Replied 23 March 2018
Please Refer Annexure II of https://rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=387#a2
It Specifies List of PFI as per 4A of Companies Act
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