State Bank of India has notified the stock exchanges that one of the validly nominated candidates for the upcoming director election has withdrawn his nomination ahead of the General Meeting of Shareholders scheduled for May 15, 2026. The development was communicated via a regulatory filing dated May 11, 2026, signed by Shima Devi, AGM (Company Secretary).

Withdrawal of Nomination

Shri Dharmendra Singh Shekhawat, whose nomination had been found valid under Section 19A of the State Bank of India Act, 1955, read with the Reserve Bank of India (Commercial Banks - Governance) Directions, 2025, has formally withdrawn his candidacy. His name will consequently be excluded from the list of candidates for the election of directors under Section 19(c) of the State Bank of India Act, 1955.

The key details of the withdrawal and the upcoming General Meeting are summarised below:

Background and Context

The bank had previously issued letters — reference CC/S&B/AND/2026-27/79 dated April 27, 2026 and CC/S&B/AND/2026-27/98 dated May 4, 2026 — notifying the list and details of validly nominated candidates for the election of four Directors to the Central Board of the Bank. The current filing, bearing reference CC/S&B/SD/2026-27/116, serves as a continuation and update to those earlier communications.

General Meeting Proceedings

Following the withdrawal, the remaining validly nominated candidates will be put up for voting at the General Meeting of the Shareholders. The meeting is scheduled to be held on Friday, May 15, 2026 at 03:00 PM through Video Conferencing and Other Audio Visual Means, in accordance with applicable provisions. The election pertains to four Director positions on the Central Board of the Bank under the State Bank of India Act, 1955.

State Bank of India recorded a notable block trade on the National Stock Exchange (NSE), with approximately 1,061,935 shares transacted at a price of ₹978.70 per share. The total deal size amounted to ₹103.93 crores, marking a significant single-transaction event in the stock.

Block Trade Details

The following table summarises the key parameters of the block trade:

Block trades of this scale typically indicate participation by large institutional investors or significant portfolio activity, as such transactions are executed outside the regular order book to minimise market impact. The deal involving State Bank of India underscores continued interest in one of India's largest public sector banking institutions.