State Bank of India Act, 1955 · Chapter III: Transfer of Undertaking of the Imperial Bank to State Bank
Section 10: Transferability of shares
(1) Save as otherwise provided in sub-section (2), the shares of the State Bank shall be freely transferable.
(2) Nothing contained in sub-section (1) shall entitle the [Central Government] to transfer any shares held by it in the State Bank if such transfer will result in reducing the shares held by it to less than [fifty-one per cent. of the issued capital consisting of equity shares,] of the State Bank.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 10
No Supreme Court judgment in our database cites this section yet.