India’s Largest PSU Bank Announces 8 Valid Nominations for Election of Directors; FII Stake Rises to 11.41%

The Indian equity markets have managed to recover marginally from the lower levels of the day on Tuesday, but were still trading on a mixed note with the Nifty 50 index trading at 24,167.15, up by 74.45 points. Despite the benchmark indices showing limited movement, stock-specific action continued in select Large-Cap counters. Amid this, shares of Bank-of-india-100112">State Bank of India (SBI) were trading at Rs 1,107.80, up by 0.36 per cent during the session. 

State Bank of India Announces 8 Valid Nominations for Election of Directors

State Bank of India has informed the stock exchanges regarding an update on its General Meeting of Shareholders scheduled to be held on 15 May 2026 at 3:00 PM through Video Conferencing / Other Audio Visual Means for the election of four Directors to the Central Board under Section 19(c) of the State Bank of India Act, 1955.

The bank stated that against the four vacancies of Directors, a total of eight nominations have been found valid under Section 19A of the State Bank of India Act, 1955 read with the Reserve Bank of India (Commercial Banks – Governance) Directions, 2025. The validly nominated candidates include Arun Ananth Kamath, K.R. Ashok, Dharmendra Singh Shekhawat, Khurshed Rustom Dordi, Deepak Arora, Sandeep Natwarlal Shah, Dr. Sandhya Shekhar and Sanjay Kapoor.

The bank further stated that any candidate wishing to withdraw nomination may submit the withdrawal request on or before 11 May 2026 by 5:00 PM.

State Bank of India Shareholding Pattern

As per the March 2026 shareholding pattern, Foreign Institutional Investors increased their holding in the bank to 11.41 per cent from 10.34 per cent in the December 2025 quarter. Domestic Institutional Investors held 26.11 per cent compared to 27.04 per cent in the previous quarter. Promoter holding stood at 55.52 per cent against 55.50 per cent, while public shareholding declined to 6.81 per cent from 6.97 per cent sequentially.

About State Bank of India

State Bank of India is India’s largest public sector bank and financial services institution with a widespread domestic and international presence. The bank offers retail banking, corporate banking, treasury operations, digital banking, loans, deposits, wealth management, insurance and other financial services across customer segments.

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Disclaimer: This article is for informational purposes only and not investment advice.