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Parliament on Monday passed a Bill that would pave the way for subsidiary banks of SBI to raise capital through preferential allotment/private placement of shares.
The State Bank of India (Subsidiary Banks Laws) amendment Bill, 2011, was passed by the Lok Sabha through a voice vote after an amendment was moved by the Minister of State for Finance, Mr Namo Narain Meena.
The amendment was moved following the Rajya Sabha making a similar amendment to the Bill. The amendment had to be carried out to remove a technical glitch and that it had no major implications, sources said.
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