State Bank of India (SBI), India's largest public sector bank, has disclosed a forthcoming change in its senior management. The announcement, made in compliance with SEBI listing regulations, pertains to a key position at one of its subsidiaries.

Senior Management Transition

Shri Deepak Kumar Lalla, who currently serves as the Managing Director and CEO of SBI CAP Securities Limited in Mumbai, is set to superannuate from the bank's services. The transition is scheduled to take place at the close of business hours on October 31, 2025.

Key Details of the Announcement

Regulatory Compliance

The disclosure was made by State Bank of India in adherence to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates prompt disclosure of events or information that may have a bearing on the performance or operations of the listed entity.

SBI's commitment to transparency is evident in its prompt communication of this senior management change to both the BSE Limited and the National Stock Exchange of India Limited.

Implications

This announcement signifies a notable change in the leadership of SBI CAP Securities Limited, a key subsidiary of State Bank of India. As the transition approaches, stakeholders will likely be keen to observe any potential impacts on the subsidiary's operations and strategic direction.

State Bank of India continues to demonstrate its adherence to regulatory requirements and commitment to keeping its stakeholders informed about significant organizational changes.

State Bank of India (SBI), India's largest public sector bank, has announced a significant expansion of its workforce, with plans to hire approximately 3,500 officers. This move is aimed at strengthening the bank's operations and enhancing service delivery across its vast network.

Recruitment Drive Details

SBI's recruitment efforts are already underway, with the bank having made substantial progress in various categories:

The bank is employing a three-stage recruitment process for the additional Probationary Officer positions, ensuring a thorough selection of qualified candidates.

Comprehensive Recruitment Plan

SBI Chairman C S Setty has outlined a broader recruitment strategy, revealing plans to hire approximately 18,000 employees across all categories. This includes:

• 3,500 officers (as detailed above)
• 13,500 clerical positions

This extensive hiring initiative underscores SBI's commitment to expanding its workforce to meet growing operational demands and improve customer service.

Focus on Gender Diversity

In addition to expanding its overall workforce, SBI is placing a strong emphasis on improving gender diversity within the organization:

• Current women workforce: 27%
• Target women workforce: 30% (within five years)
• Women in frontline staff: 33%

To support its female employees, SBI has implemented several women-centric initiatives:

1. Creche allowances
2. Family connect programmes
3. 'Empower Her' leadership development initiative

These programs aim to create a more inclusive work environment and provide support for women employees to advance in their careers.

SBI's Current Workforce

SBI currently employs over 2.4 lakh (240,000) staff members, making it one of the largest employers in the Indian banking sector. The planned additions will further solidify its position as a major employer in the country.

This comprehensive recruitment drive, coupled with initiatives to promote gender diversity, demonstrates SBI's commitment to strengthening its human resources and fostering an inclusive work environment. As the bank continues to grow and adapt to changing market demands, these efforts are likely to play a crucial role in maintaining its position as a leader in the Indian banking industry.