State Bank of India, country’s largest lender, is going to hold its annual general meeting on June 17, via video conferencing.
Keeping a note of the restrictions due to COVID-19, Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) in April had allowed companies to conduct their annual general meeting (AGM) through video conferencing or other audio visual means.
The meeting will be held at 3 pm via video conferencing or other audio visual means.
The virtual AGM is being organised following requests from various stakeholders in view of COVID-19 lockdown restrictions, SBI said in a release.
“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.
These candidates include, Ganesh Ganapati Natarajan (63); Ketan Shivji Vikamsey (54); B. Venugopal (61); Mrugank Madhukar Paranjape (53); Vinod Kumar (64).
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.