State Bank of India has announced the extension of Managing Director Ashwini Kumar Tewari's tenure following an official government notification. The bank disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on December 17, 2025.

Government Re-appointment Notification

The Department of Financial Services, Ministry of Finance, Government of India issued Notification No. 2/1/2025-BO.I dated December 16, 2025, officially re-appointing Ashwini Kumar Tewari as Managing Director. The re-appointment was made in exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955.

Extension Details

The key parameters of the tenure extension are outlined below:

Tewari's current term was scheduled to end on January 27, 2026, but the government has now extended it till his superannuation date of December 31, 2027. The extension provides continuity in leadership for the country's largest public sector bank.

Regulatory Compliance

State Bank of India has fulfilled its disclosure obligations by providing details required under SEBI master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The bank submitted the necessary documentation along with a copy of the government notification to both BSE Limited and National Stock Exchange of India Limited.

Leadership Continuity

The tenure extension ensures leadership stability at State Bank of India during a crucial period for the banking sector. Tewari will continue in his role as Managing Director, providing strategic direction and operational oversight for the bank's operations across India and internationally. The re-appointment reflects the government's confidence in his leadership capabilities and the bank's performance under his guidance.

State Bank of India has issued an important regulatory disclosure regarding the transfer of unclaimed shares to the Investor Education and Protection Fund (IEPF) and the opening of a special window for physical share transfers.

IEPF Share Transfer Notice

The bank announced that shares on which dividends have not been paid or claimed for seven consecutive years will be transferred to the IEPF on the due date of March 6, 2026. This transfer is mandated under applicable regulations to protect investor interests and ensure proper handling of unclaimed securities.

Special Window for Physical Share Transfers

Concurrently, State Bank of India has opened a special window for re-lodgement of transfer requests for physical shares. This facility provides shareholders holding physical certificates an opportunity to complete pending transfer formalities and update their holdings.

Regulatory Compliance and Publication

The disclosure was made pursuant to Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank published these notices in multiple newspapers to ensure wide dissemination of information to shareholders.

Communication Details

The official communication was signed by Shima Devi, Assistant General Manager (Company Secretary), and addressed to both BSE Limited and National Stock Exchange of India Limited. The notice carries reference number CC/S&B/SD/2025-26/731 dated December 16, 2025.

Shareholder Action Required

Shareholders are advised to review their dividend payment status and take necessary action before the March 6, 2026 deadline to avoid transfer of their shares to IEPF. Those holding physical shares may utilize the special re-lodgement window to complete pending transfer requests and ensure proper registration of their holdings.