SBFC Finance Limited has informed the Exchange regarding Appointment of Mr Sreenivas Mylavarapu as Chief Credit Officer of the company w.e.f. November 01, 2025.
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SBFC Finance's board, at its November 1, 2025 meeting, approved the SBFC Stock Option Policy 2025-I creating a pool of 1.21 crore employee stock options, subject to shareholder approval via postal ballot. Mr. Shanesh Jain, Head – Internal Audit, resigned with immediate effect citing personal reasons (relocating to UAE). Mr. Viney Vaid, Head – Credit, also resigned with immediate effect due to personal reasons after nearly eight years at the company. To fill the credit leadership gap, the board appointed Mr. Sreenivas Mylavarapu as Chief Credit Officer from the same date. Mr. Mylavarapu brings over 29 years of banking experience, most recently as General Manager and Business Head at Karnataka Bank, with prior stints at Aditya Birla Housing Finance, Kotak Mahindra Bank, and IDBI Bank.
The simultaneous exit of the internal audit and credit heads raises near-term governance and continuity concerns, though the quick appointment of an experienced Chief Credit Officer should steady credit operations. The new ESOP pool of 1.21 crore options is a sizeable retention tool but will need shareholder nod and could modestly dilute equity if fully exercised.