SBI to hold virtual annual general meeting on June 17

The country's largest lender State Bank of India (SBI) on Wednesday said it will hold its annual general meeting on June 17, through video conferencing mode. In April, Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) had allowed companies to conduct their annual general meeting (AGM) through video conferencing or other audio visual means, during this year due to COVID-19 restrictions.

The virtual AGM is being organised following requests from various stakeholders in view of COVID-19 lockdown restrictions, SBI said in a release.

The meeting will be held at 3 pm via video conferencing or other audio visual means.


"Shareholders will be allowed to e-vote for electing four directors from a list of five candidates as per the provisions of the SBI Act and SBI General Regulations, 1955," the bank said.

The lender said keeping in view the well-being of all stakeholders and to comply with lockdown restrictions, it has avoided physical meetings for major events in the past few months.