SBFC Finance Limited has informed the Exchange regarding Resignation of Mr. Viney Vaid as Head - Credit of the company w.e.f. November 01, 2025.
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SBFC Finance's board, which met on November 1, 2025, 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 of Internal Audit, resigned with immediate effect to relocate to the UAE for personal reasons. Mr. Viney Vaid, Head of Credit, also stepped down after nearly eight years at the company, citing personal reasons. To fill the credit leadership gap, the board appointed Mr. Sreenivas Mylavarapu as Chief Credit Officer with effect from November 1, 2025; he brings over 29 years of banking experience, most recently as General Manager at Karnataka Bank heading retail, agri and MSME lending.
The transition appears orderly, with an experienced external replacement for the Head-Credit role announced the same day, which should reassure investors about continuity in credit decision-making. The new ESOP pool of 1.21 crore shares will dilute existing shareholders if fully exercised, but it needs shareholder approval first, so the near-term impact on the stock is limited.