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Six state-owned banks reported common equity Tier 1 (CET1) ratios that did not meet the regulatory minimum capital conservation buffer levels of 7.375% in March 2018, including Punjab National Bank, the second-largest state bank. Banks will have to meet a higher minimum regulatory CET1 requirement of 8% in FY19, including the capital conservation buffer.
In granting applications by state banks to become members of the Federal Reserve System, the Board takes into consideration whether the conduct of certain activities directly by banks could have a seriously adverse effect on the safety and soundness of the institution and on the nation's banking system.
As I have discussed, the activities of state banks are currently subject to the oversight of the FDIC or the Federal Reserve, as the case may be.
The regulation authorizes a state bank owned by a bank holding company to acquire and retain, without Board approval under the act, all of the voting shares of a company so long as the company engages solely in activities the parent bank could conduct directly and only at a location at which the bank could conduct the activities.
To facilitate the merger, the Cabinet also gave an in-principle approval to introduce a Bill in Parliament for amending the State Bank of India (Subsidiary Banks) Act of 1959, to remove references of State Bank of Indore.
It has agreed to give 34 SBI shares for every 100 shares of State Bank of Indore held by minority shareholders.

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