SBI Cards and Payment Services Limited , a leading credit card issuer in India, has announced significant changes in its Board of Directors.

New Appointment

Anuradha Rao has been appointed as an Additional Independent Director for a term of three years, effective November 13, 2025. This appointment is subject to shareholder approval.

Director Resignations

Shamsher Singh

Shamsher Singh, who served as a Non-executive Nominee Director, has resigned from his position effective November 13, 2025. Singh, nominated to the Board by State Bank of India (SBI), cited his inability to devote adequate time to Board matters as the primary reason for his departure. This decision stems from the increasing demands of his role as Deputy Managing Director for Transaction Banking New Initiatives at SBI.

In his resignation letter, Singh expressed:

"My inability to devote adequate time for Board matters, due to demands from my role in the Bank has necessitated this decision which I hope you would appreciate."

Completion of Terms

Dinesh Kumar Mehrotra and Anuradha Shripad Nadkarni have completed their second terms as Independent Directors and ceased to be directors from November 13, 2025.

Impact and Acknowledgments

The resignation of Board members, especially one nominated by the parent company, is a significant event for SBI Cards. These changes may lead to shifts in the dynamics of the company's Board.

In his parting message, Singh acknowledged the support he received during his tenure:

"I would like to express my heartfelt appreciation to my fellow Board Members, the management team and all the stakeholders for their unwavering support and collaboration throughout my tenure. It has been an honour to serve this esteemed organization."

The Board and management of SBI Cards have recognized Singh's valuable contributions and guidance during his time with the company.

Looking Ahead

While Singh's resignation marks the end of his direct involvement with SBI Cards' Board, he expressed confidence in the company's future:

"I extend my best wishes to the entire team for continued success, and I am confident that the company will continue to thrive and grow in years to come."

With these changes, SBI Cards may initiate the process of finding suitable replacements, potentially seeking another nominee from State Bank of India to maintain the parent company's representation on the Board.

A significant block trade involving SBI Cards shares took place on the Bombay Stock Exchange (BSE), marking a notable transaction in the financial sector. The deal, valued at Rs 179.87 crore, showcases continued interest in the credit card and payment services company.

Transaction Details

This substantial transaction involved the exchange of approximately 2.06 million shares of SBI Cards. The trade was executed at a price of Rs 872.10 per share, reflecting the current market valuation of the company.

Market Implications

Block trades of this magnitude often attract attention from market participants and analysts. They can indicate significant shifts in ownership or investment strategies by large institutional investors. However, it's important to note that the specific buyers and sellers involved in this transaction have not been disclosed in the available information.

Company Overview

SBI Cards and Payment Services Limited, commonly known as SBI Cards, is a leading credit card issuer in India. As a subsidiary of the State Bank of India, the country's largest public sector bank, SBI Cards has established itself as a major player in the Indian financial services sector.

Investor Relations

It's worth noting that SBI Cards maintains active communication with its investors. According to the latest LODR (Listing Obligations and Disclosure Requirements) data, the company recently engaged with Elara Capital, indicating ongoing dialogue with financial analysts and potential investors.

This block trade, coupled with the company's investor relations activities, underscores the dynamic nature of SBI Cards' presence in the Indian stock market. As always, investors are advised to conduct their own research and consider their financial goals when making investment decisions.