Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015
State Bank of India (BSE: 500112, NSE: SBIN) has made a disclosure pursuant to Regulation 30 read with Clause 7 of Para A Part A of Schedule III and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the election of directors under Section 19(c) of the State Bank of India Act, 1955.
Key Details of Director Appointments
Elected Directors:
- Shri Sandeep Natwarlal Shah
- Dr. Sandhya Shekhar
- Shri K.R. Ashok
- Shri Khurshed Rustom Dordi
Reason for Change: Election of Shareholder Directors
Effective Date: 26th June, 2026
Tenure: Three years with effect from 26th June, 2026 to 25th June, 2029 (both days inclusive)
Relationships Between Directors: No relationships between the directors
Director Eligibility: The elected directors are not debarred from holding the office of director by virtue of any SEBI order or any other authority
Director Profiles
Shri Sandeep Natwarlal Shah: Founder Partner of N A Shah Advisors LLP and distinguished Chartered Accountant with over 40 years of professional experience. Expertise spans assurance, financial reporting, and corporate advisory services. Has been engaged with Institute of Chartered Accountants of India in several capacities including member of Shield Panel, Panel of Technical Reviewer, member of ICAI's Expert Advisory Committee, Accounting Standard Board, Auditing & Assurance Standards Board, Ind AS Implementation Committee, and Ind AS Technical Facilitation Group. Committee member of Bombay Chartered Accountants' Society's 'Corporate and Allied Laws'. Was part of a three-member committee working with SEBI on formulation of 'Operational guidelines for Security and Covenant Monitoring using Distributed Ledger Technology (DLT)'. Currently on executive boards of National Burns Centre, Somaiya Education Trust, and independent director on board of Trützschler India Pvt. Ltd.
Dr. Sandhya Shekhar: Works across industry, academia and start-up ecosystem with focus on business strategy, digital transformation, innovation, entrepreneurship and corporate governance. Serves as independent director on boards of several companies and is an advisor for digital strategy. Member of the Apex Committee of BIRAC Bionest. Former first CEO of IIT Madras Research Park. Previously worked as Director, Asia Pacific Consulting at Gartner Inc.; CTO, BConnectB.com; Head, Knowledge Management Research at Aptech; and Group Consultant at NIIT. Has served on Government of India policy committees and was member of IT Advisory Council for SBI. Recipient of Distinguished Alumni Award from IIM Bangalore. PhD from IIT Madras that won global award for outstanding doctoral research from European Foundation for Management Development.
Shri K.R. Ashok: Former Executive Director of LIC of India, joined as Direct Recruit Officer in 1989 and retired as Executive Director (Actuarial) in May 2025. Degree in Mathematics from University of Madras. Over 36 years of service at LIC gained experience in various aspects of Life Insurance business in India and abroad (UK). Worked across all operational areas including Sales, underwriting, accounting, customer service, and claims management. Headed UK operations of LIC in 2015, holding regulatory-approved role of Head of Third Country Branch. Promoted as Chief (Actuarial) and headed task force for implementation of new Actuarial IT system Prophet before LIC's IPO. Member of ALM committee and presented to Board's Risk Management Committee. Holds Diploma in Actuarial Technique from Institute of Actuaries of India, certifications from Insurance Institute of India, Indian Institute of Quantitative Finance, and Chartered Insurance Institute of UK. Holds International certificate in financial services risk management from Institute of Risk Management, UK.
Shri Khurshed Rustom Dordi: Seasoned board and enterprise leader with more than three decades of international experience across banking, financial services, governance, enterprise risk management, technology, operations and large-scale organisational transformation. Spent over two decades with Deutsche Bank, holding senior leadership positions including Managing Director and Group Chief Operating Officer, India. Experience encompasses enterprise leadership, governance, regulatory engagement, operational resilience, risk oversight, strategic execution, technology-enabled transformation and institution building. Certified executive coach in Marshall Goldsmith methodology and published author on leadership and organisational effectiveness. Brings expertise in financial services, enterprise risk management, operational resilience, technology and digital transformation, regulatory affairs, human capital development, succession planning and institutional stewardship.