State Bank of Travancore:
Directors re-elected
Thiruvananthapuram: 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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