New Delhi: SBI Cards and Payment Services Ltd announced the appointment of veteran finance professional Rajnikant Patel as an Additional Independent Director. The appointment was approved by shareholders during the company’s 27th Annual General Meeting (AGM) held on August 29, 2025. His tenure will run for three years, from August 13, 2025, to August 12, 2028.
Strengthening SBI Cards’ Board Leadership
The company confirmed Patel’s appointment through a regulatory exchange filing. It stated that he is not related to any existing director, nor is he barred from holding directorship under SEBI orders or related circulars issued by BSE and NSE regarding compliance for listed companies.
The addition of Patel to the board reflects SBI Cards’ continued focus on bringing seasoned leaders with diverse expertise to strengthen its corporate governance and strategic decision-making.
Patel’s Distinguished Career in Finance and Markets
Rajnikant Patel is a postgraduate in Commerce, LLB, and Banking. He is a Certified Internal Auditor, ISO Certified, and Certified Financial Consultant, with additional certifications from leading global institutions, including MIT Boston, University of Oxford, and University of Pennsylvania.
A veteran leader with over 30 years of experience, Patel has served across commercial banking, capital markets, commodity markets, regulation, IT, and cyber security. Notably, he has held leadership roles as Managing Director & CEO of the Bombay Stock Exchange (BSE) and the Indian Commodity Exchange (ICEX). His leadership is recognized for driving corporate transformation, technological innovation, and governance excellence.
Contributions to Policy, Industry, and Academia
Patel also spent more than a decade with the Reserve Bank of India (RBI), working in banking supervision and technology. His career includes roles with BNP Paribas, State Bank Group, and other nationalized banks. Beyond corporate leadership, he has been an advisor and mentor to startups, particularly on strategy and governance.
He has served on committees of leading institutions like SEBI, FMC, WDRA, CII, ASSOCHAM, FICCI, PHD, IMC, and BMA. His contributions have been recognized through multiple awards, including the Indira Super Achievers Award, HR Excellence Award, Employer Branding Award, IT People Award for Innovation, and India’s Greatest HR Professional Award.
About SBI Cards
SBI Cards and Payment Services Ltd, a subsidiary of the State Bank of India, is one of the country’s largest credit card issuers. The company serves millions of customers across India, offering a diverse portfolio of consumer and corporate credit cards. With a focus on innovation, technology, and financial inclusion, SBI Cards continues to expand its leadership in India’s payments industry.
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