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