Question

The RBI shareholding in SBI has been reduced to ______.

• A. 50 per cent
• B. 55 per cent
• C. 60 per cent
• D. Nil as it was transferred to government in 2007

Answer 1

The correct option is D Nil as it was transferred to government in 2007

The government took the control of the Imperial bank of India in 1955. At that time RBI had a 60% stake in it and it was renamed as State Bank of India. The Government had constituted SBI Amendment Ordinance 2007 on June 21 to modify the State Bank of India Act 1955 for buying RBI's entire shareholding in SBI. The move to buy RBI's stake is aimed at enabling the central bank to concentrate on its core function as the banking regulator.SBI is an Indian multinational public sector bank. It is owned by the government. The headquarters of SBI is in Mumbai. It is the largest bank in India holding nearly 25% of the market share.

Hence, option (D) is the correct answer.