MUMBAI, Dec 18: The government has named Rama Mohan Rao Amara as the fourth managing director of the State Bank of India, the largest lender in the country, as announced to the exchanges on Wednesday.
Amara’s tenure will last for three years, according to the bank, further indicating that the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, approved the appointment on the same day.
In September, the Financial Services Institutions Bureau (FSIB), responsible for appointing directors in state-owned banks and institutions, recommended Amara for this role.
His appointment is intended to fill the vacancy left by CS Setty, who took on the role of chairman in October.
The FSIB had conducted interviews with nine candidates for the position, as stated in their official communication.
“Considering their performance during the interviews, overall experience, and existing criteria, the bureau recommends Amara for the MD position at SBI,” it stated.
The SBI board is chaired by the chairman and supported by four managing directors—Ashwini Kumar Tewari, Vinay M Tonse, and Rana Ashutosh Kumar Singh, who assumed his role in June and will serve until the end of November 2025.
Typically, deputy managing directors or chief general managers are promoted to the MD position. Additionally, the heads of SBI subsidiaries, including SBI Life, SBI General, SBI Caps, and SBI Cards, also hold DMD positions in the bank.
The second level of SBI’s management comprises over a dozen deputy managing directors and more than 50 chief general managers.
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