SBFC Finance has approved the ‘SBFC Stock Option Policy 2025 – I’, consisting of 1,21,00,000 employee stock options. Additionally, Mr. Shanesh Jain, Head – Internal Audit, has resigned, while Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer, effective November 1, 2025. Mr. Viney Vaid, Head – Credit, has also resigned.
Stock Option Policy Approved
SBFC Finance has approved the ‘SBFC Stock Option Policy 2025 – I’. This policy consists of a pool of 1,21,00,000 (One Crore and Twenty – One Lakh) employee stock options. The approval was based on the recommendation of the Nomination and Remuneration Committee. It is subject to shareholder approval through postal ballot. Options can be exercised within 6 months of vesting.
Resignation of Internal Auditor
Mr. Shanesh Jain, Head – Internal Audit, has tendered his resignation, effective November 1, 2025. His resignation is due to his relocation to the UAE for personal reasons.
Senior Management Changes
Mr. Viney Vaid, Head – Credit, has resigned from the company, effective November 1, 2025, citing personal reasons.
Appointment of Chief Credit Officer
Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer of the Company, with effect from November 1, 2025. Mr. Mylavarapu brings over 29 years of experience across retail, MSME, agriculture, and microfinance sectors. He previously worked with Karnataka Bank Ltd. as General Manager & Business Head.
Source: BSE
