Rajnickant Patel Replaces Rajendra K. Saraf As Independent Director Of SBI Cards

Rajnickant Patel has been appointed as an Independent Director (Additional Director) on the Board of SBI Cards and Payment Services Limited w.e.f. August 13, 2025, subject to the approval of the shareholders.

Patel replaces Rajendra Kumar Saraf, Independent Director, who has completed his term and, accordingly, retired with effect from August 13, 2025.

Patel has over 30 years of experience and has worked in commercial banking, finance, banking regulation, capital and commodity markets, IT, cybersecurity, and management consultancy. He served as Chief Executive Officer and Managing Director (CEO & MD) of the Bombay Stock Exchange (BSE) and Indian Commodity Exchange (ICEX) and spent over a decade at the Reserve Bank of India (RBI). He has also worked with multinational and national banks and advises startups on strategy. Patel has been a member of multiple regulatory and industry committees and received numerous awards for his contributions. He is a finance professional with postgraduate qualifications in commerce, LLB, and banking. He holds certifications as an internal auditor, ISO, and financial consultant, along with additional credentials in design thinking from MIT Boston, economic development from the University of Oxford, and CSR from the University of Pennsylvania.