India’s credit card sector is undergoing a significant leadership transition as SBI Cards and Payment Services, the country’s largest standalone credit card issuer, appoints Salila Pande as its new Managing Director and Chief Executive Officer.

Effective from April 1, 2025, Pande’s appointment was confirmed through a regulatory filing to the BSE and NSE. She brings nearly three decades of banking experience with the State Bank of India (SBI), SBI Card’s parent company. Most recently, she served as Chief General Manager of the Mumbai Metro Circle, overseeing SBI’s retail operations in one of India’s key financial hubs.

Pande also held the position of President and CEO at SBI California, where she steered the bank’s U.S. operations through the challenges of the COVID-19 pandemic, showcasing strong leadership during a period of global economic instability.

Despite the leadership announcement, shares of SBI Card closed 2.39% lower on April 1, 2025, at ₹860 per share, reflecting broader market volatility at the start of the financial year.

Her appointment comes at a crucial time for the Indian credit card industry, which is witnessing rapid growth. With her extensive experience in retail banking and international operations, industry experts and investors will closely monitor how she steers SBI Card in the evolving financial landscape.