SBI Cards and Payment Services Limited has informed the Exchange regarding Notice of Postal Ballot
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SBI Cards has sent a Postal Ballot Notice to shareholders seeking approval for the appointment of Mr. Shamsher Singh (DIN: 09787674) as a Nominee Director on its board. He was nominated by State Bank of India (the promoter) via a letter dated March 11, 2025, and the board approved his appointment effective April 17, 2025, subject to shareholder confirmation as required under SEBI LODR rules. Mr. Singh, aged 58, currently serves as Deputy Managing Director (Transaction Banking & New Initiatives) at SBI and brings over 30 years of banking experience, including heading SBI Funds Management Ltd. and the Ahmedabad Circle. E-voting runs from June 11, 2025 to July 10, 2025, with results to be declared within two working days thereafter.
This is a routine nominee director appointment by SBI (the promoter), so it carries no material impact on the stock or minority shareholders. Since SBI holds a significant stake in SBI Cards, having its nominee on the board is expected and aligns with standard corporate governance practice.