Meeting Details

  • Date: Wednesday, August 19, 2026
  • Time: 10:30 AM to 12:30 PM (IST)
  • Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
  • Type: Annual General Meeting (AGM)
  • Record Date: Wednesday, August 12, 2026
  • Total Shareholders on Record Date: 6,095,414

Attendance

  • Total Members Attended: 144 (all from Public category)
  • Promoters Attendance: 0 members
  • Directors Present: All 13 Board Members attended through VC/OAVM:
  • Mr. Rama Subramaniam Gandhi (Non-Executive, Part-time Chairman, Independent Director)
  • Mr. Vinay M. Tonse (Managing Director & CEO)
  • Mr. Manish Jain (Executive Director)
  • Mr. Atul Malik (Independent Director)
  • Ms. Rekha Murthy (Independent Director)
  • Mr. Sharad Sharma (Independent Director)
  • Mr. Sadashiv Srinivas Rao (Independent Director)
  • Ms. Nandita Gurjar (Independent Director)
  • CA Sanjay Kumar Khemani (Independent Director)
  • Mr. Thekepat Keshav Kumar (Nominee Director of State Bank of India)
  • Mr. Shivakumar Dega (Nominee of Verventa Holdings Limited)
  • Mr. Rajeev Veeravalli Kannan (Nominee of Sumitomo Mitsui Banking Corporation)
  • Mr. Shinichiro Nishino (Nominee of Sumitomo Mitsui Banking Corporation)

Proposed Resolutions and Implications

Seven resolutions were proposed and approved:

1. Ordinary Resolution: Adoption of audited standalone and consolidated financial statements for FY 2025-26

2. Ordinary Resolution: Re-appointment of Mr. Shivakumar Dega (DIN: 00364444) as director retiring by rotation

3. Ordinary Resolution: Appointment of M/s. MSKA & Associates LLP as Joint Statutory Auditors (ICAI Firm Registration No. 105047W/W101187) and fixing their remuneration

4. Ordinary Resolution: Approval of material related party transactions with State Bank of India and modifications

5. Ordinary Resolution: Approval of material related party transactions with Sumitomo Mitsui Banking Corporation and modifications

6. Special Resolution: Approval for raising funds by issuance of eligible equity securities

7. Special Resolution: Approval for borrowings/raising funds by issuance of eligible debt securities

Voting Process and Methods

The Bank provided two voting methods:

  • Remote e-voting: Available from Sunday, August 16, 2026 at 10:00 AM to Tuesday, August 18, 2026 at 05:00 PM through KFin Technologies Limited
  • E-voting at AGM: Available during the meeting for members who didn't vote remotely

Key Voting Outcomes

Overall Participation:

  • Total votes cast across all resolutions: Approximately 20.6 billion shares
  • Public Institutions held 22.1 billion shares (70.5% of total 31.4 billion shares)
  • Public Non-Institutions held 9.3 billion shares (29.5% of total)
  • Promoters held 0 shares (0%)

Resolution-wise Results:

Item 1 - Adoption of Financial Statements (Ordinary)

  • Total Votes Polled: 20,612,214,429 shares (65.70% of outstanding shares)
  • In Favor: 20,611,339,387 shares (99.99%)
  • Against: 875,042 shares (0.01%)

Item 2 - Re-appointment of Mr. Shivakumar Dega (Ordinary)

  • Total Votes Polled: 20,620,860,300 shares (65.70% of outstanding shares)
  • In Favor: 20,299,291,923 shares (98.44%)
  • Against: 321,568,377 shares (1.56%)

Item 3 - Appointment of Auditors (Ordinary)

  • Total Votes Polled: 20,620,573,153 shares (65.70% of outstanding shares)
  • In Favor: 20,619,850,949 shares (100.00%)
  • Against: 722,204 shares (0.00% - negligible)

Item 4 - SBI Related Party Transactions (Ordinary)

  • Total Votes Polled: 20,620,573,153 shares (65.70% of outstanding shares)
  • In Favor: 20,619,850,949 shares (100.00%)
  • Against: 722,204 shares (0.00% - negligible)

Item 5 - SMBC Related Party Transactions (Ordinary)

  • Total Votes Polled: 9,423,667,954 shares (30.02% of outstanding shares)
  • In Favor: 9,423,121,730 shares (99.99%)
  • Against: 546,224 shares (0.01%)

Item 6 - Equity Fundraising (Special)

  • Total Votes Polled: 20,620,924,923 shares (65.70% of outstanding shares)
  • In Favor: 20,575,226,653 shares (99.78%)
  • Against: 45,698,270 shares (0.22%)

Item 7 - Debt Fundraising (Special)

  • Total Votes Polled: 20,620,886,364 shares (65.70% of outstanding shares)
  • In Favor: 20,620,244,567 shares (100.00%)
  • Against: 641,797 shares (0.00% - negligible)

Scrutinizer's Role and Findings

  • Scrutinizer: Ms. Manisha Maheshwari, Partner of M/s. Bhandari & Associates, Practicing Company Secretary
  • Appointment Date: June 29, 2026
  • Role: To scrutinize the remote e-voting and e-voting process in a fair and transparent manner
  • Findings: All resolutions were approved with requisite majority as per the Companies Act, 2013 and SEBI Listing Regulations
  • Report Date: August 19, 2026

Compliance Confirmation

The meeting was conducted in compliance with:

  • Companies Act, 2013
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars including No. 14/2020, No. 17/2020, and latest Circular No. 03/2025 dated September 22, 2025
  • SEBI Master Circular No. SEBI/HO/AFD/AFD-PoD-2/P/CIR/2024/70 dated May 30, 2024

Additional Financial Information

From the Chairman's speech included in the press release:

  • Net Profit for FY 2025-26: INR 3,476 crore (44.5% YoY growth)
  • Return on Assets (RoA): 1.0% (Q4 annualized), 0.8% (full year)
  • Total Deposits: Crossed INR 3 lakh crore
  • CASA Balances: Crossed INR 1 lakh crore
  • Advances: INR 273,445 crore (11.1% YoY growth)
  • Gross NPA: 1.3%
  • Net NPA: 0.2%
  • Capital Adequacy Ratio (CRAR): 15.3%
  • Shareholding: SMBC (24.9%), SBI (10.8%)

Auditor Change Details

The document includes an annexure detailing change in Joint Statutory Auditors:

  • Ceased: M/s. G. M. Kapadia & Co. (due to tenure completion per RBI directions)
  • Appointed: M/s. MSKA & Associates LLP (for 3 years from conclusion of 22nd AGM till conclusion of 25th AGM in 2029)