SBI Cards and Payment Services Limited has announced the appointment of Smt. Salila Pande as its new Managing Director and Chief Executive Officer, effective April 1, 2025. The decision was taken at the company’s Board of Directors meeting held on February 17, 2025. Pande will succeed Mr. Abhijit Chakravorty, who is set to retire from the State Bank of India on March 31, 2025.
The appointment is subject to necessary approvals, including shareholder consent. The company has confirmed that Salila Pande is not related to any other director of SBI Cards and is not debarred from holding a director’s position by SEBI or any other regulatory authority.
Smt. Salila Pande brings nearly three decades of experience in the banking sector. Having joined the State Bank of India as a Probationary Officer in 1995, she has played a pivotal role in several key divisions, including International Banking, Retail Banking, and Risk Management.
Over the years, she has held leadership positions such as Vice President – Mid Office at SBI Singapore, Deputy General Manager (Business and Operations) in Delhi, and President & CEO of SBI California, a foreign subsidiary of the bank. Her expertise in financial risk management and strategic operations has made her a trusted leader in the banking industry.
Pande holds a postgraduate degree in Physics and is a Certified Financial Risk Manager (FRM) accredited by the Global Association of Risk Professionals (GARP), USA. Additionally, she is a Certified Associate of the Indian Institute of Bankers (CAIIB), further strengthening her credentials in financial management and banking.
With her appointment, SBI Cards is expected to strengthen its position as a market leader in India’s credit card and digital payments space. Under Pande’s leadership, the company aims to enhance its customer-centric approach, drive innovation in digital transactions, and expand its market reach in India’s growing credit landscape.
As the first woman to lead SBI Cards, her appointment marks a significant milestone in the company’s history and reflects the increasing role of women in leadership positions within India’s banking sector.
The Board expressed confidence in Pande’s ability to guide the company through its next phase of growth and innovation, leveraging her extensive experience in banking and risk management.
