To the State Bank of India, Reserve Bank of India and the Central
 Government, in terms of Section 43(1) of State Bank of India
 (Subsidiary Banks) Act, 1959.
 
 14. BOARD OF DIRECTORS 2010-11
 
 14.1.  Smt. Madhumita Sarkar Deb, Chief General Manager, Reserve Bank
 of India, Central Office, Mumbai was nominated as RBI Nominee Director,
 under section 25{1) (b) of SB) (Subsidiary Banks) Act 1959 with effect
 from 3rd January 2011, in place of Smt.Ratna K.Makhija.
 
 14.2.  Shri S.A.Thimmiah, General Manager (A&S), SBI Corporate Centre,
 tendered his resignation on 24th December 2010 consequent to his
 transfer from SBI, Corporate Centre, Mumbai. In his place, Shri
 B.Ramesh Babu, Deputy General Manager (A&S), Spi Corporate Centre, was
 nominated as Director on the Board of the Bank representing SBI, under
 Section 25(1) (c) of SBI (Subsidiary Banks) Act 1959, with effect from
 25th December 2010.
 
 14.3.  Shri Milind S.Katti, was appointed as Workmen Director, with
 effect from 31st August 2010 under section 25(1) (ca) of SBI
 (Subsidiary Banks) Act 1959 consequent to the expiry of the term of
 Shri S.R.Powar.
 
 14.4.  Shri Gururaja Rao was appointed as Non-workmen Director with
 effect from 7th September 2010 under section 25(1) (cb) of SBI
 (Subsidiary Banks) Act 1959 consequent upon the expiry of the term of
 Shri D.S.Nagaraj.
 
 14.5.  The Board places on record its appreciation of the valuable
 services rendered by Smt.Ratna K.Makhija, Shri SAThimmiah, Shri
 S.R.Powar and Shri D.S.Nagaraj. The Board welcomes the new Directors.
 
 15.  AUDIT
 
 M/S Gopala Iyer & Subramanian, Coimbatore, M/S Ramraj & Co., Bangalore,
 M/S Grover, Lalla & Mehta, New Delhi, M/S K P Rao & Co, Bangalore and
 M/S Bhasin Raghavan & Co., New Delhi have been appointed as the
 Statutory Central Auditors of the Bank for the accounting period ended
 31s March, 2011 by State Bank of India, with the approval of Reserve
 Bank of India. 670 branches of the Bank were subjected to statutory
 audit as against 660 branches audited last year.
 
 16. ACKNOWLEDGEMENTS
 
 The Board wishes to place on record its sincere appreciation of the
 patronage and support of the customers, shareholders, members of staff,
 Employees Union and Officers Association for their contribution to
 the overall development of the Bank.
 
 By the Order of the Board
 
 DILIP MAVINKURVE
 
 Managing Director