SBI Cards and Payment Services Limited has informed the Exchange regarding 'Shareholder's Approval - Appointment of Mr. Rajnikant Patel (DIN: 00003135) as an Independent Director on the Board of the Company'.
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Shareholders of SBI Cards approved the appointment of Mr. Rajnikant Patel (DIN: 00003135) as an Independent Director at the 27th Annual General Meeting held on August 29, 2025. He was earlier appointed as an Additional Independent Director on August 13, 2025, and will serve a three-year term ending August 12, 2028. Mr. Patel is a veteran financial markets professional with over 30 years of experience, including former MD & CEO roles at BSE and ICEX, plus stints at RBI, BNP Paribas, and State Bank Group. He is not related to any existing director and has no SEBI debarment orders against him.
This is a routine governance update with no direct impact on shareholders' value or stock price. The appointment of a seasoned financial markets veteran may strengthen board-level oversight, particularly in areas like banking regulation, technology, and cyber security.