State Bank of India has announced its General Meeting scheduled for May 15, 2026, for the election of directors under Regulation 21 of SBI General Regulations, 1955. The meeting represents a significant corporate governance milestone for India's largest public sector bank.

Meeting Details and Schedule

The General Meeting will be conducted on Friday, May 15, 2026, at 03:00 PM at State Bank Auditorium, State Bank Bhavan, Madame Cama Road, Mumbai-400021. In compliance with Ministry of Corporate Affairs circulars and SEBI guidelines, the meeting will be held through Video Conferencing (VC) and Other Audio-Visual Means (OAVM).

E-Voting Process and Timeline

The bank has implemented a comprehensive remote e-voting system to facilitate shareholder participation. The remote e-voting period commences at 10:00 AM IST on May 12, 2026, and concludes at 05:00 PM IST on May 14, 2026. The e-voting module will be disabled by NSDL after this period.

Shareholders holding shares in physical or dematerialized form as of the cut-off date February 13, 2026, are eligible to participate in the voting process. Once a vote is cast, shareholders cannot modify their choice subsequently.

Communication and Accessibility

The Notice of General Meeting was published in the Gazette of India on March 23, 2026, and in newspapers with wide circulation on March 24, 2026, as per Regulation 21 of SBI General Regulations. Email notifications were dispatched on April 4, 2026, to shareholders whose email addresses are registered with Depository Participants or the Registrar and Share Transfer Agent.

Shareholder Participation Guidelines

Shareholders present in the General Meeting through VC/OAVM facility who have not cast their vote through remote e-voting will be eligible to vote through the e-voting system during the meeting. However, shareholders who have already voted through remote e-voting can attend the meeting but cannot vote again.

For technical support and queries, shareholders can refer to the Frequently Asked Questions and e-voting user manual available on NSDL's website or contact the helpline at 022-4886 7000. Additional support is available through Ms. Pallavi Mhatre, Senior Manager, NSDL, at evoting@nsdl.com .

Corporate Governance Compliance

The meeting demonstrates State Bank of India's commitment to transparent corporate governance practices. The bank has provided multiple access channels and comprehensive instructions to ensure maximum shareholder participation in the director election process. The QR code facility mentioned in the notice provides convenient access to meeting details and participation instructions.

State Bank of India faces estimated losses of approximately ₹3 billion from the forced unwinding of trades following regulatory action by the Reserve Bank of India. The development comes after the central bank intervened over the public sector bank's substantial short-rupee positions worth $5 billion.

Financial Impact Assessment

The bank has estimated significant financial consequences from the regulatory intervention, with losses projected at around ₹3 billion from the forced unwinding of trading positions. This represents a substantial financial impact stemming from the RBI's action on the bank's foreign exchange operations.

Regulatory Intervention Details

The Reserve Bank of India took action against State Bank of India concerning the bank's substantial short-rupee betting positions valued at $5 billion. The regulatory intervention has resulted in the forced unwinding of these positions, leading to the estimated financial losses for the country's largest public sector bank.

Market and Banking Implications

The development highlights the financial consequences that can arise from regulatory interventions in currency trading operations. The estimated ₹3 billion loss underscores the scale of impact when major banking institutions are required to unwind significant forex positions under regulatory pressure. This case demonstrates the RBI's active oversight of currency market activities and its willingness to take decisive action when positions are deemed significant enough to warrant intervention.