The State Bank of India Act,1955
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 1[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 2[fifty-one per cent of the issued capital consisting of equity shares] of the State Bank.
1. The Words “Reserve Bank” Subs. by Act No. 32 of 2007 w.e.f. 3-9-2007
2. Subs. by Act 27 of 2010 w.e.f. 24-8-2010.