Question

According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to _____.

• A. 40 per cent
• B. 45 per cent
• C. 51 per cent
• D. 65 per cent

Answer 1

Answer: (C)

51 per cent

According to Banking Companies Amendment Act 1994, the Government's share in the paid up capital of public sector banks has been reduced to 51%. This means, public sector should minimum hold the government's 51% share. For example: State Bank of India.