State Bank of India (SBI), India's largest public sector bank, has received approval from the Reserve Bank of India (RBI) to appoint 10 Chartered Accountant (CA) firms as Statutory Central Auditors (SCAs) for the fiscal year 2025-26. This appointment, which includes eight continuing firms and two newly appointed ones, underscores SBI's commitment to maintaining robust financial oversight and transparency.

Continuing Auditors

The majority of the appointed firms will continue their role as SCAs for SBI. These include:

Newly Appointed Auditors

SBI has also brought on board two new firms as SCAs:

The appointment of these firms as Statutory Central Auditors is a crucial step in ensuring the accuracy and reliability of SBI's financial statements. It reflects the bank's adherence to regulatory requirements and its commitment to maintaining high standards of financial reporting.

This diverse mix of continuing and new auditors brings a wealth of experience and fresh perspectives to SBI's financial auditing process. The geographical spread of these firms, covering various regions of India, also ensures a comprehensive approach to the bank's pan-India operations.

The appointment of SCAs is a regulatory requirement for banks in India, aimed at enhancing the credibility of financial statements and providing assurance to stakeholders. By appointing a combination of established and new audit firms, SBI demonstrates its commitment to balancing continuity with fresh insights in its financial oversight mechanisms.

As India's largest public sector bank, SBI's financial health and transparency are of significant interest to investors, regulators, and the general public. This appointment of SCAs for FY2025-26 is a testament to the bank's ongoing efforts to maintain the highest standards of financial governance and accountability.

State Bank of India (SBI), India's largest public sector bank, has increased its stake in Raajmarg Infra Investment Managers Private Limited through a rights issue, as disclosed in a recent regulatory filing.

Key Details of the Acquisition

Strategic Implications

The acquisition of additional shares in Raajmarg Infra Investment Managers Private Limited aligns with SBI's strategy to diversify its investment portfolio. This move positions SBI to potentially benefit from the growing infrastructure sector in India.

About Raajmarg Infra Investment Managers

Raajmarg Infra Investment Managers Private Limited is an asset management company that plans to provide investment management services to a proposed public Infrastructure Investment Trust (InvIT) sponsored by the National Highways Authority of India (NHAI). This connection to NHAI-sponsored projects suggests a focus on highway and road infrastructure investments.

Regulatory Compliance

SBI's disclosure of this acquisition complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has provided the necessary details to the stock exchanges, ensuring transparency in its investment activities.

The strategic investment in Raajmarg Infra Investment Managers Private Limited demonstrates SBI's continued interest in the infrastructure sector and its potential for growth. As India continues to focus on infrastructure development, this move may allow SBI to participate in and potentially benefit from large-scale infrastructure projects.