SBI Card  CEO Ashwini Kumar Tewari Resigns To Take Charge At SBI
Representational image: Logos of Mastercard and Visa sit on credit cards in this arranged photograph. (Photographer: Andrey Rudakov/Bloomberg)

SBI Card CEO Ashwini Kumar Tewari Resigns To Take Charge At SBI

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SBI Card & Payments Services Ltd. on Wednesday said its Managing Director and Chief Executive Officer Ashwini Kumar Tewari has resigned pursuant to his appointment at State Bank of India.

"We wish to inform that Ashwini Kumar Tewari, Managing Director & CEO (nominated by State Bank of India) of the company has tendered his resignation from directorship of the company with effect from the close of business hours of Jan. 27, 2020," SBI Card said in a regulatory filing.

The resignation is owing to his appointment as managing director of State Bank of India, it said.

"He will also cease to be the MD & CEO of the company from the said date," said the pure-play card company promoted by the country's largest lender SBI.

Further, pursuant to norms to prohibit insider trading and consequent to Tewari's resignation, the company's trading window for dealing in securities will remain closed from the close of business hours on Wednesday and will end 48 hours after the conclusion of the board meeting in which the said vacancy will be filled and consequent disclosure will be made to the stock exchanges.

Tewari took over as SBI Card managing director and chief executive officer on Aug. 1, 2020.

Prior to taking charge at SBI Card, since April 2017, Tewari held the position of country head of U.S. operations at SBI, based in New York. He also served as vice-chairman of the SBI (California) board of directors.

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