June 29 2007- Date on which Centre acquired RBI's 59.73% stake in SBI

Q.  When did the Centre acquire the Reserve Bank of India's entire 59.73% equity stake in the State Bank of India (SBI) at over Rs. 35,531 crore in New Delhi?
- Published on 20 Jul 15

a. April 5, 2006
b. May 26, 2006
c. June 29, 2007
d. September 30, 2005

ANSWER: June 29, 2007
 
The Centre acquired the Reserve Bank of India's entire 59.73% equity stake in State Bank of India (SBI) at over Rs. 35,531 crore in New Delhi on June 29, 2007. It is the biggest ever cash purchase. As per the guidelines of the Securities and Exchange Board of India (SEBI), the Government picked up the entire SBI shares held by the SBI at a price of Rs. 1,130.35 a share.

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