SBI Cards and Payment Services Ltd announced that Chief Risk Officer Shantanu Srivastava has resigned, citing personal reasons. His resignation will take effect at the close of business on October 6, 2025, according to a regulatory filing.
Regulatory Compliance and Official Filing
The company confirmed the resignation under Regulation 30 and 51 of SEBI’s Listing Obligations and Disclosure Requirements and RBI’s NBFC guidelines. The resignation letter states:
“I tender my resignation from the position of Chief Risk Officer… with effect from the close of business hours on October 6, 2025, due to personal reasons.”
Srivastava also expressed gratitude:
“I take this opportunity to thank you for your continued support and guidance during my tenure…I am sure that the Company will scale new heights in the times ahead.”
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Transition in Motion
SBI Card’s filing noted they have not yet named a successor. The board is expected to initiate the search process shortly.
Srivastava joined SBI Card as CRO in April 2023 after a 30-year career in banking, including roles at HSBC, Standard Chartered, and ANZ Grindlays. At HSBC, he led operational and resilience risk for multiple segments across India and the Asia-Pacific region.
Impact on SBI Cards’ Risk Function
Srivastava’s departure may challenge SBI Card’s risk management continuity. His leadership helped define the firm’s risk appetite and manage credit, operational, and compliance risks since April 2023.
The upcoming months will test SBI Card’s ability to maintain risk oversight during the leadership transition, especially as credit card spends and market share evolve.
About SBI Cards
SBI Cards and Payment Services Ltd is India’s second-largest credit card issuer, backed by State Bank of India. It issues over 19 million cards across lifestyle, travel, fuel, shopping, and corporate segments. The company offers bespoke rewards programs, co-branded cards, and enhanced digital services.
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