State Bank of India announces exit of Nitin Chugh as Deputy MD

Mumbai: State Bank of India (SBI) on Monday said Nitin Chugh has been relieved from his position as Deputy Managing Director and Head (Digital Banking & Transformation) with effect from March 2, 2026.

In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank said Chugh’s contractual tenure was set to end on March 3, 2026. As March 3 is a public holiday, he was relieved at the close of business hours on March 2.

The disclosure was filed with BSE Limited and National Stock Exchange of India Limited, where SBI’s shares are listed under code 500112 on BSE and SBIN on NSE.


SBI said the move follows the completion of his contractual term. The bank did not name a successor in the filing.

The communication to the exchanges was signed by Shima Devi, AGM (Company Secretary).