SBI Cards and Payment Services Limited (SBICARD) — Board Meeting | 29 March 2025(4 announcements)

The board accepted the resignation of Managing Director and CEO Abhijit Chakravorty effective March 31, 2025, due to superannuation from State Bank of India, and the resignation of Non-executive Director Nitin Chugh effective March 29, 2025, citing insufficient time for board duties. Both departures trigger insider trading restrictions until financial results are announced.

The board approved revising its Code of Practices for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) to comply with SEBI regulations, effective March 29, 2025. The updated framework mandates strict protocols for handling material non-public data, including mandatory disclosure timelines, centralized CIRO oversight, and enhanced record-keeping via a digital database. Key provisions cover financial results, M&A activity, leadership changes, and insider trading safeguards to ensure uniform investor communication.

The board accepted the resignation of Managing Director and CEO Abhijit Chakravorty effective March 31, 2025, due to superannuation from State Bank of India, and the resignation of Non-executive Director Nitin Chugh effective March 29, 2025, citing insufficient time for board duties. Both departures trigger a trading window closure from March 29 to 48 hours after the March 31 quarterly results. The company confirmed compliance with SEBI regulations and filed required disclosures.

The board accepted the resignation of Managing Director and CEO Abhijit Chakravorty effective March 31, 2025, due to superannuation from State Bank of India, and the resignation of Non-executive Director Nitin Chugh effective March 29, 2025, citing insufficient time for board duties. Both departures trigger insider trading restrictions until financial results are announced.