SBI Cards and Payment Services Limited has informed the Exchange regarding 'Shareholder's Approval - Appointment of Managing Director and CEO'.
SBICARD · price
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On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and 0.3 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shareholders of SBI Cards have approved, via postal ballot on May 9, 2025, the appointment of Smt. Salila Pande (DIN: 10941529) as Managing Director and CEO of the company for a two-year term starting April 1, 2025. She was nominated by State Bank of India, the promoter of SBI Cards, and was first announced on February 17, 2025, pending shareholder approval. Salila Pande is currently a Chief General Manager at SBI, a career banker since 1995, with extensive experience in International Banking, Retail Banking, and Risk Management, including stints as President & CEO of SBI California and VP – Mid Office at SBI Singapore. She holds a postgraduate degree in Physics and is a Certified Financial Risk Manager (FRM) and Certified Associate of the Indian Institute of Bankers. The company has confirmed she is not related to any existing director and is not barred by any SEBI order.
This completes the leadership transition at SBI Cards with a seasoned banker from the parent SBI taking charge as MD & CEO, providing continuity of strategic alignment with the promoter. For shareholders, this removes a key governance overhang and confirms stable leadership, though the market may await her strategic direction before reacting significantly.