State Bank of India has released its Secretarial Compliance Report for the financial year ended March 31, 2026. Prepared by the Secretarial Auditors, the report confirms the Bank’s adherence to regulatory standards while highlighting ongoing efforts to address specific board composition requirements. The Bank continues to work closely with the Department of Financial Services and relevant government authorities to ensure alignment with all governance frameworks and mandates.
Report Overview
The State Bank of India has submitted its formal Secretarial Compliance Report, reflecting the bank’s governance activities and regulatory adherence for the 2025-26 financial year. The document serves as an annual assessment of the bank’s compliance with established corporate governance frameworks and disclosure requirements.
Board Composition and Governance
The report highlights an ongoing observation regarding the composition of the Central Board, specifically the requirement to maintain a minimum proportion of independent directors when the chairperson is an executive director. The bank has clarified that as a body corporate constituted under the State Bank of India Act, 1955, its board is formed according to specific statutory provisions under Section 19 of the Act.
Strategic Engagement with Authorities
To resolve the noted board composition gap, the Bank has actively engaged with the Department of Financial Services (DFS) and the Ministry of Finance. The objective of these discussions is to seek necessary interventions to harmonize statutory requirements under the SBI Act with broader market governance standards. This proactive approach underscores the Bank’s commitment to maintaining regulatory transparency and corporate accountability while operating under its unique legislative framework.
Commitment to Transparency
Beyond the board composition matter, the bank remains in full compliance with all other key requirements, including the preservation of documents, performance evaluation of committees, and the timely disclosure of material information. The bank maintains a functional website for investor relations and has confirmed that no disqualifications were reported among its directors for the review period.
Source: BSE
