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The State government will be responsible for the loans under the Guarantees Act if the borrowers fail to repay.
Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1 per cent of their total assets at the end of September 2019.
The bank said the 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 EMI on loans will be accordingly restructured. The benefit of moratorium will be extended to only 'standard accounts' that were prompt in their repayment till January 31, 2020.
The bank loans now stand at about Rs 100.4 lakh crores at an increase of 6.3 per cent.
EOW had registered an FIR against senior officials of HDIL and the PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.
During the public meetings, credit will be provided for retail, agriculture, MSME and housing sector, among others.
The government on August 30 announced consolidation of 10 large public sector banks into four.
Of this, 75 per cent of the affected branches belong to the country's biggest lender State Bank of India (SBI).
The banks to be merged are Punjab National Bank (PNB), Oriental Bank and United Bank; Canara Bank and Syndicate Bank; Union Bank, Andhra Bank and Corporation Bank; and Indian Bank and Allahabad Bank.
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