State Bank Of India has informed the Exchange about change in Management

Kmp ResignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹1189.50

prior close

₹1172.10

announcement price

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)-1.7%+0.4% vs market

Public Sector Bank peers, median of 11sector-4.4%+3.1% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty 100 and 3.1 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.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

State Bank of India has informed stock exchanges that Shri Nitin Chugh, Deputy Managing Director and Head of Digital Banking & Transformation, has been relieved from service at the close of business on 02.03.2026 as his contract period ends on 03.03.2026 (which happens to be a public holiday). This is a senior management-level change disclosed under SEBI's Listing Obligations and Disclosure Requirements. No reason beyond the natural end of his contract term has been stated. The announcement is signed by the AGM (Company Secretary).

Likely market impact

Shareholders should note the exit of a senior KMP responsible for digital banking and transformation, which could lead to short-term uncertainty around the bank's digital strategy leadership. The departure appears routine (end of contract) rather than contentious, so long-term impact is likely limited.