State Bank of India relieves Nitin Chugh as DMD & Head Digital Banking

Mumbai: State Bank of India (SBI) on Monday announced that Nitin Chugh has been relieved from his role as Deputy Managing Director and Head (Digital Banking & Transformation), effective March 2, 2026.

In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank said Chugh’s contractual tenure was scheduled to conclude on March 3, 2026.

However, since March 3 is a public holiday, he was relieved at the close of business on March 2.

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited, where State Bank of India’s shares are listed.

The bank stated that his exit follows the completion of his contractual term. No successor has been announced so far.