SBI Cards and Payment Services Limited has informed the Exchange regarding the extension of term of Mr. Ved Prakash as Executive Vice President & Head- Internal Audit for a period of 4 months from March 01, 2026 to June 30, 2026.
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The board of SBI Cards, at its meeting on March 5, 2026, declared an interim dividend of Rs. 2.50 per equity share (25% on face value of Rs. 10) for FY 2025-26. The record date has been set as March 11, 2026, and the dividend will be paid on or before April 3, 2026. Additionally, the board approved a 4-month extension of Mr. Ved Prakash's term as Executive Vice President & Head of Internal Audit, from March 1, 2026 to June 30, 2026, on the recommendation of the Audit Committee and Nomination and Remuneration Committee. Mr. Ved Prakash, a Deputy General Manager from SBI, has been with the company since March 2023 and brings over 31 years of banking experience.
The interim dividend of Rs. 2.50 per share provides a modest income return for shareholders and signals continued financial health. The extension of the Internal Audit head ensures continuity in governance and compliance oversight, which is a neutral-to-positive signal for risk management.