SBIN: State Bank of India has informed the Exchange about Notice of demand under Income Tax Act, 1961
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts more than Nifty 100 and 2.6 pts more than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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State Bank of India received an order dated 19.03.2026 from the Income Tax Assessment Unit raising a demand of ₹63,37,52,52,550 (approximately ₹633.75 crore, including interest) under Sections 143(3), 144C(3), and 144B of the Income Tax Act for Assessment Year 2023-24. The demand arose from disallowances made during the scrutiny assessment proceedings on various grounds. The Bank noted that it is already fighting similar issues in litigation for earlier years. It plans to contest the order before the appellate authorities within the prescribed timelines. Importantly, the Bank stated there is no impact on its operations or other activities due to this order.
The demand is material in size but represents a tax dispute rather than an admitted liability, and the Bank's management has stated no operational impact. Shareholders should monitor the appellate outcome, but near-term the news is unlikely to cause significant stock price disruption given the Bank's large size and history of contesting similar matters.