SBI Cards and Payment Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 29, 2025
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SBI Cards has informed the exchanges about its 27th Annual General Meeting (AGM) scheduled for Friday, August 29, 2025 at 12:30 PM, to be held via video conferencing in line with MCA and SEBI guidelines. Shareholders will consider ordinary business items including adoption of FY25 audited financial statements, authorization to fix statutory auditors' remuneration, and confirmation of the interim dividend of Rs 2.50 per share (25%) already paid for FY 2024-25. Under special business, the meeting will consider appointing M/s Agarwal S. & Associates as secretarial auditors for five years at a fee of Rs 2 lakh, and approving material related party transactions with parent State Bank of India (covering banking, credit, investments, and a royalty of 0.20% of total income or 2% of profit after tax, whichever is higher) and with SBI Capital Markets. Two special resolutions seek shareholder approval to raise the company's borrowing limit to Rs 51,000 crore and to create charges on company assets up to the same amount. E-voting will be open from August 26 to August 28, 2025, with the cut-off date set as August 22, 2025.
The AGM notice is largely routine, but the proposed Rs 51,000 crore borrowing cap signals room for significant balance sheet expansion. The related party transactions and royalty payment to parent SBI reinforce SBI Cards' structural dependence on its promoter for funding, distribution, and servicing, which minority shareholders should factor into their assessment.