SBI Cards and Payment Services Limited announced that at its board meeting held on July 10, 2023, approved resignation of Mr. Rama Mohan Rao Amara, CEO of the Company who has tendered his resignation from directorship of the Company with effect from the close of business hours on August 11, 2023, owing to his transfer back to the State Bank of India. He will also cease to be the CEO of the Company from August 11, 2023. The company also approved the appointment of Mr. Abhijit Chakravorty as CEO of the Company with effect from August 12, 2023 for a period of two years, subject to necessary approval(s) as may be required including approval of the shareholders at the upcoming Annual General Meeting.