State Bank of India (SBI) has announced changes to its key managerial personnel. Shri Vinay M Tonse will superannuate from his position as Managing Director (Retail Business and Operations) on November 30, 2025. Additionally, Smt Saloni Narayan, Deputy Managing Director (Finance), and Smt Ruma Dey, Deputy Managing Director (Special Projects – Compliance & Data Protection), will also be superannuating on the same date.

Key Leadership Transitions

State Bank of India (SBI) is set to undergo changes in its leadership team as several key managerial personnel are scheduled to superannuate on November 30, 2025. These changes impact various strategic areas of the bank’s operations.

Director Transition

Shri Vinay M Tonse, currently serving as Managing Director (Retail Business and Operations), will be superannuating. His departure marks a significant shift in the leadership of the retail business segment.

Deputy Managing Director Changes

In addition to the Director transition, there will be changes in the roles of Deputy Managing Directors:

• Smt Saloni Narayan, currently the Deputy Managing Director (Finance).
• Smt Ruma Dey, currently the Deputy Managing Director (Special Projects – Compliance & Data Protection).

Both Deputy Managing Directors will also superannuate on November 30, 2025.

Source: BSE

Bayer CropScience has received a revised order regarding Goods and Services Tax (GST) related to outward supply for the financial year 2017-18. The revised order from the Additional Commissioner of Central Tax reduces the penalty from INR 74 million to INR 31 million. The company is evaluating further actions, including the possibility of an appeal.

Revised GST Order Received

Bayer CropScience has been notified of a revised order pertaining to Goods and Services Tax (GST) obligations. The revised order addresses matters concerning outward supply for the fiscal year 2017-18.

Penalty Reduction

The key update involves a significant reduction in the penalty initially imposed. According to the notification, the penalty has been reduced from INR 74 million to INR 31 million following a review by the Additional Commissioner of Central Tax.

Financial Impact

The reduction in penalty positively impacts the company’s financial obligations related to the 2017-18 fiscal year. The company is currently assessing the revised order and considering its options, including the possibility of filing an appeal.

Source: BSE

Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary of Dalmia Bharat, has had a proposed tax demand dropped by the Sales Tax Officer. The demand, totaling ₹187.72 crore in tax and ₹78.59 crore in penalties, related to GST for assessment years 2019-20 and 2022-23. This will have no financial impact on DCBL.

Tax Demand Update

Dalmia Cement (Bharat) Limited (“DCBL”), a wholly-owned subsidiary of Dalmia Bharat, received notice regarding differences observed in taxable turnover and Input Tax Credit (ITC) for the assessment years 2019-20 and 2022-23.

Resolution of Tax Proceedings

The Sales Tax Officer, Lalgudi, Tiruchirapalli, Tamil Nadu, has dropped the proposed demand following adjudication proceedings. The dropped demand includes both tax and penalties. The details are as follows:

The company release stated that there is no financial impact on Dalmia Cement (Bharat) Limited as a result of this settlement. The order was received on November 28, 2025, at 07:30 P.M.

Source: BSE

SBFC Finance announces that the credit rating for pass-through certificates (PTCs) issued by Prime Trust March 2019, backed by loan against property (LAP) receivables, has been reaffirmed at Crisil AAA (SO). The rating was provided by Crisil Ratings Limited. The announcement was made on November 29, 2025.

Credit Rating Reaffirmation

SBFC Finance confirms that the credit rating for certain financial instruments has been reviewed and reaffirmed. The credit rating pertains to pass-through certificates (PTCs) issued by Prime Trust March 2019.

Rating Details

The rating agency, Crisil Ratings Limited, has reaffirmed the credit rating at Crisil AAA (SO) for Series A PTCs. These certificates are backed by loan against property (LAP) receivables originated by SBFC Finance. This rating action reflects the continued strength and stability of the underlying assets.

Source: BSE

PNB Housing Finance announces the superannuation of Mr. Ajay Kumar Mohanty, Head of Internal Audit & Chief of Internal Vigilance, effective November 29, 2025. Mr. Vipin Malhotra will assume responsibility for the Internal Audit function starting November 30, 2025. The company has formally disclosed information on leadership transition within its internal audit department, ensuring operational oversight.

Internal Audit Transition

PNB Housing Finance has announced a change in its management team. Mr. Ajay Kumar Mohanty, the Head of Internal Audit and Chief of Internal Vigilance, has reached superannuation and concluded his services with the company on November 29, 2025, after the close of business hours.

New Internal Audit Lead

Effective November 30, 2025, Mr. Vipin Malhotra will take over as the head of the Internal Audit function at PNB Housing Finance.

Vipin Malhotra’s Profile

Mr. Vipin Malhotra brings over 23 years of experience in finance and audit across various financial institutions. He is a qualified Chartered Accountant (CA) with global certifications such as Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), and Certified Fraud Examiner (CFE).

Prior to joining PNB Housing Finance, he served as Head of Internal Audit (Centre of Excellence) at Yes Bank Ltd., where he also served as Chief of Internal Vigilance, and Head – Internal Audit for Retail Credit and Branch Banking. His experience includes roles at ICICI Bank Ltd., LIC Housing Finance Ltd., and Ashok Leyland Finance Ltd.

Source: BSE

NLC India announces that Shri Ashok Dattatraya Keote ceased to be an Executive Director (Senior Management Personnel) of the Company on November 29, 2025, due to superannuation. His last day was effectively November 29, 2025, as November 30, 2025, fell on a Sunday.

Executive Director Retirement

Shri Ashok Dattatraya Keote, an Executive Director (Senior Management Personnel) at NLC India, superannuated from his position on November 29, 2025. The company has formally announced his departure following his attainment of the superannuation age.

Effective Date

Shri Keote’s cessation from the role was effective from November 29, 2025 (AN), considering November 30, 2025, was a Sunday.

Source: BSE

Union Bank of India confirms the timely payment of annual interest on its bonds as of November 29, 2025. The interest payment, amounting to ₹54,60,00,000/-, has been made to bondholders according to the established mandate and beneficiary records. The bond’s ISIN is INE692A08201, with an issue size of ₹700 Crores.

Annual Interest Payment Confirmation

Union Bank of India has announced the successful and timely payment of annual interest on its bonds. The payment was executed on November 29, 2025, ensuring compliance with the terms and conditions outlined in the bond agreement.

Key Details of the Bond Interest Payment

Here’s a summary of the key details related to the interest payment:

ISIN: INE692A08201

Issue Size: ₹700 Crores

Interest Amount Paid: ₹54,60,00,000/-

Due Date and Actual Payment Date: 29.11.2025

Interest Payment Record Date: 14.11.2025

Frequency of Payment: Yearly

Date of Last Interest Payment: 29.11.2024

Additional Information

The announcement confirms that applicable TDS (Tax Deducted at Source) has been deducted from the interest payment. The bank assures its bondholders of its commitment to fulfilling its financial obligations promptly.

Source: BSE

Union Bank of India confirms the timely payment of annual interest on its bonds as of November 29, 2025. This announcement pertains to compliance under regulatory guidelines and ensures investors receive their dues promptly. The interest payment was made according to the mandate provided by the investors and aligned with the beneficiary record date. This reflects the bank’s commitment to fulfilling its financial obligations.

Timely Interest Payment

Union Bank of India has announced the successful and timely payment of annual interest on its bonds on November 29, 2025. This adheres to stipulations and ensures compliance with regulatory requirements, affirming the bank’s financial responsibility.

Key Details of the Interest Payment

Here are the key details regarding the interest payment:

ISIN: INE692A08219

Issue Size: ₹1,500 Crores

Interest Amount: ₹117,75,00,000/-

Frequency: Yearly

Interest Payment Record Date: 14.11.2025

Due Date for Interest Payment: 29.11.2025

Actual Date for Interest Payment: 29.11.2025

Last Interest Payment Date: 29.11.2024

Source: BSE

Canara Bank confirms the annual interest payment on its Non-Convertible, Taxable, Redeemable, Unsecured Fully Paid Up, Long-Term Bonds (In the Nature of Debentures) with ISIN INE476A08209. The interest amount of ₹384,00,00,000 was credited to bondholders’ accounts on November 29, 2025. The coupon rate for these bonds is 7.68%.

Interest Payment Confirmation

Canara Bank has announced the successful completion of the annual interest payment for its Non-Convertible, Taxable, Redeemable, Unsecured Fully Paid Up, Long-Term Bonds (In the Nature of Debentures) with ISIN INE476A08209. This announcement was made on November 29, 2025.

Key Details of the Interest Payment

The interest payment details are as follows:

* ISIN: INE476A08209
* Issue Size: ₹5000,00,00,000
* Interest Amount Paid: ₹384,00,00,000
* Frequency of Payment: Annual
* Interest Payment Record Date: 14/11/2025
* Due Date for Interest Payment: 29/11/2025
* Actual Date for Interest Payment: 29/11/2025

Bond Details

The bonds are BASEL III compliant Tier I/Tier II Bonds and Long-Term Bonds issued by Canara Bank. They are listed on the National Stock Exchange of India Limited for trading under the Debt Market segment. The coupon rate for these bonds is 7.68%.

Source: BSE

PowerGrid has received notices from BSE and NSE regarding non-compliance related to the composition of its Board during the quarter ended September 30, 2025. Consequently, the company has been fined ₹5,42,800/- (incl. GST) each by BSE and NSE. PowerGrid has requested a waiver of the fine, citing ongoing efforts to fill vacant Independent Director positions.

BSE and NSE Action

PowerGrid received notices from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 28, 2025, regarding non-compliance with the requirements for Board composition.

Financial Penalty

Both BSE and NSE have imposed a fine of ₹5,42,800/- (incl. GST) each on PowerGrid due to this non-compliance. This amounts to a total financial implication of ₹10,85,600

Reason for Non-Compliance

The non-compliance relates to Regulation 17(1) concerning the composition of the Board for the quarter ending September 30, 2025. This regulation pertains to having the appropriate number of Independent Directors.

Company Response

PowerGrid is currently addressing the issue by working with the Ministry of Power to fill the vacant positions of Independent Directors. The company has requested BSE and NSE to waive the fine, citing these ongoing efforts. Letters were sent on November 29, 2025.

Source: BSE