SBFC Finance’s board has approved the ‘SBFC Stock Option Policy 2025 – I’, consisting of 1,21,00,000 employee stock options. Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer. Mr. Shanesh Jain, Head – Internal Audit, and Mr. Viney Vaid, Head – Credit, have resigned due to personal reasons, effective November 1, 2025.
Stock Option Policy Approved
The Board of Directors has approved the ‘SBFC Stock Option Policy 2025 – I’, which consists of a pool of 1,21,00,000 (One Crore and Twenty – One Lakh) employee stock options. This plan is subject to shareholder approval via postal ballot. The eligible employees will receive stock options as determined by the Nomination and Remuneration Committee (NRC).
Resignation of Internal Auditor
Mr. Shanesh Jain, Head – Internal Audit, has resigned effective November 1, 2025, due to shifting to the UAE for personal reasons. The Audit Committee and the Board of Directors have acknowledged his resignation.
Senior Management Changes
The following changes in senior management personnel were announced, effective November 1, 2025:
Mr. Viney Vaid, Head – Credit, has resigned due to personal reasons.
New Chief Credit Officer
Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer (CCO). Mr. Mylavarapu is a seasoned banking professional with over 29 years of experience. His previous role was with Karnataka Bank Ltd. as General Manager & Business Head – Retail, Agri, and MSME Advances.
Source: BSE
