The Hindu Business Line : Re-elected to SBT board

THIRUVANANTHAPURAM: Mr K.T. Rajagopalan and Mr T. Balakrishnan, both former senior officers of State Bank of Travancore (SBT), have been re-elected to the bank's board of directors as representatives of the minority shareholders.

The election, which was held on Monday, followed the expiry of their three-year term in office. There were five candidates in the fray for the two slots, according to bank sources.

State Bank of India holds 75 per cent of SBT's shares. The minority shareholders include resident Indians (13 per cent), other banks and financial institutions (3 per cent), non-resident Indians (5 per cent) and the Kerala Government (1.05 per cent).

The State Government usually does not exercise its franchise at the bank's shareholders election to the board. This time, however, it participated in the voting, the sources said.

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Re-elected to SBT board