Hardayal Prasad resigns as MD&CEO of SBI Card

Hardayal Prasad

Hardayal Prasad resigned as the Managing Director and Chief Executive Officer of SBI Cards and Payment Services (SBI Card). He opted for voluntary retirement from SBI — the promoter of the company.

Hardayal Prasad

“We wish to inform that the Board of Directors of the company at its meeting held on Wednesday, July 15, 2020 approved resignation of Hardayal Prasad, Managing Director & CEO (nominated by State Bank of India) of the company who has tendered his resignation from directorship of the company,” SBI Card said in a regulatory filing.

He joined SBI cards and Payment Services in February 2018.

Prasad’s resignation will come into effect from the close of business hours of July 31, 2020, owing to his voluntary retirement from SBI said the official communiqué of the company.

Also Read: SBI reports highest ever profit, hits Rs 14,488 crore in FY20

“He will also cease to be the MD &CEO of the company from the said date,” SBI Card added.

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