SBI to hold virtual annual general meeting on Jun 17

In April, the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) had allowed companies to conduct their annual general meeting (AGM) through video conferencing or other audiovisual means, during this year due to COVID-19 restrictions.

The virtual AGM is being organized following requests from various stakeholders in view of COVID-19 lockdown restrictions, SBI said in a release. The meeting will be held at 3 pm via video conferencing or other audiovisual means.

"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. 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.