SBI Cards and Payment Services Limited announced that furtherance to its letter dated January 25, 2024 regarding appointment of Mr. Ashwini Kumar Tewari (DIN: 08797991) as Nominee Director (nominated by State Bank of India) on the Board of the Company, subject to the approval of shareholders of the Company. The company announced that the shareholders of the Company vide postal ballot resolution dated April 19, 2024, approved appointment of Mr. Ashwini Kumar Tewari (DIN: 08797991) as Nominee Director on the Board of the Company w.e.f. January 25, 2024, on such terms and conditions as the Board of Directors may deem fit. Mr. Ashwini Kumar Tewari is a career banker and started his career in SBI in the year 1991 as a Probationary Officer and has spent more than three decades with SBI in India and abroad in various assignments.

Presently since 21.11.2023, he is the Managing Director (Corporate Banking and Subsidiaries) of State Bank of India and a Whole Time Director handling the portfolio of Large Corporate and Commercial Credit Business of the Bank along with Associates & Subsidiaries of the Bank. This includes major non-bank business like Credit cards, Mutual Fund, Life & General Insurance, Capital Markets, Custodial Services etc. and serving on the boards of all these companies.

Prior to this assignment, he was Managing Director (Risk, Compliance and Stressed Assets) since June 2022. There he was focusing on driving Climate Risk Management in the bank and shaping the Stressed Assets Strategy of the bank. Earlier he was the Managing Director, handling International Banking, Information Technology and Non- Bank Subsidiaries of the Bank from January 2021.

He was also involved in a big refresh in the technology space in SBI. Prior to becoming Managing Director at SBI, he served as Managing Director and CEO of SBI Cards and Payment Services Ltd. where he oversaw key partnerships inked with GPay, PayTM, BPCL etc. and steered the company through the immediate aftermath of the Covid period.

Earlier, he was the Country Head of the US Operations of State Bank of India from April 2017 to July 2020. Prior to that he was the Regional Head and General Manager, East Asia, for SBI, based in Hong Kong. Over the years, he held other leadership positions at State Bank of India, including, the Deputy General Manager (Operations & Information Systems) International Banking, Head of SBI's Cash Management, Regional Manager, Branch Head, among others.

An Electrical Engineer by degree, he is a Certified Associate of Indian Institute of Bankers (CAIIB), Certified Financial Planner (CFP) and has done a Certificate Course in Management from XLRI.