State Bank of India conducted a General Meeting on March 27, 2026, to approve material related party transactions with multiple subsidiaries and associated entities, with the bank subsequently releasing comprehensive voting results showing overwhelming shareholder approval across all resolutions.

Meeting Details and Governance

The General Meeting commenced at 3:00 PM IST and concluded at 3:35 PM IST on Friday, March 27, 2026. The deemed venue was State Bank Auditorium, State Bank Bhavan, Madame Cama Road, Mumbai, though shareholders participated virtually through Video Conferencing (VC) and Other Audio-Visual Means (OAVM) in compliance with SEBI regulations and Ministry of Corporate Affairs guidelines.

Shri Challa Sreenivasulu Setty, Chairman, presided over the meeting in accordance with Regulation 25 of the State Bank of India General Regulations, 1955. The required quorum of shareholders, including the duly authorized representative of the Central Government as mandated under Regulation 24, was present at the commencement.

Voting Results and Shareholder Participation

The voting results, submitted to BSE and NSE on March 30, 2026, revealed strong shareholder support across all resolutions. The scrutinizer's report was prepared by Manisha Maheshwari (CS, Membership Number 13272) from Bhandari & Associates, who was appointed by the Board on March 18, 2025.

National Securities Depositories Limited (NSDL) provided e-voting, video conferencing, and live webcast facilities for shareholders. The remote e-voting period was conducted from March 24, 2026, 10:00 AM IST to March 26, 2026, 5:00 PM IST.

Material Related Party Transactions Approved

All 11 ordinary resolutions for material related party transactions between State Bank of India and various subsidiaries and associated entities were approved with approval rates exceeding 99.99%:

Additional transactions were approved between subsidiaries, including SBI Capital Markets Limited with SBI General Insurance Company Limited (99.9995% approval), SBI DFHI Limited with Yes Bank Limited (99.9993% approval), and SBI DFHI Limited with Rajasthan Gramin Bank (99.9991% approval).

Board Attendance and Compliance

Nine directors from the Central Board attended the meeting, with seven participating physically and two joining virtually. Physical attendees included Shri Ashwini Kumar Tewari, Shri Rana Ashutosh Kumar Singh, Shri Rama Mohan Rao Amara, Shri Ravi Ranjan, Shri Ketan S Vikamsey, Shri Mrugank M Paranjape, and Shri Rajesh K Dubey. Shri Dharmendra S Shekhawat and Smt Swati Gupta participated virtually.

The voting results were submitted to stock exchanges as required under Regulation 44(3) of SEBI (LODR) Regulations, 2015, and made available on the bank's official website and NSDL's platform. Aruna N Dak, DGM (Compliance & Company Secretary), signed the official communication to the exchanges on March 30, 2026.

State Bank of India , the country's largest lender, has issued a correction regarding its recently completed Basel III compliant Tier 2 bond allotment of ₹6,051 crores at 7.05% coupon rate. The bank officially corrected the number of bonds allotted through a regulatory filing dated March 24, 2026.

Correction in Bond Count

The bank clarified that the actual number of bonds allotted was 6,051 instead of the previously disclosed 1,00,00,000 bonds. This correction was communicated through disclosure reference CC/S&B/SD/2025-26/932, updating the earlier disclosure CC/S&B/SD/2025-26/927 dated March 20, 2026.

Bond Structure and Features

The bonds maintain their original structure as non-convertible, taxable, redeemable, subordinated, and unsecured instruments with a face value of ₹1 crore each. The 10-year tenure bonds continue to offer annual interest payments with structured call options.

Regulatory Compliance and Listing

The correction was filed with both BSE Limited (Scrip Code: 500112) and National Stock Exchange of India Limited (Scrip Code: SBIN) as per regulatory requirements. The bonds remain proposed for listing on both exchanges and continue to comply with Basel III capital adequacy norms.

This administrative correction ensures accurate disclosure while maintaining the fundamental terms and successful completion of the bond issuance that strengthens the bank's Tier 2 capital base.