NEW DELHI, Jan 8: The State Bank of India has officially appointed Baldev Prakash as the deputy managing director and group chief risk officer, as announced in their communication to the exchanges.
Previously, Prakash served on deputation at Jammu and Kashmir Bank, where he held the position of managing director and chief executive officer, completing his three-year term in December.
Additionally, the bank has assigned Shiva Om Dikshit a new role as deputy managing director, overseeing operations-channel management.
In another update, the Reserve Bank of India (RBI) has introduced draft formats for updated financial statements — specifically the balance sheet and profit and loss account — aimed at improving the regulatory framework governing cooperative banks. These formats, first established in 1981, have undergone significant revisions in response to changing financial market conditions and accounting standards. The RBI has conducted a thorough review and has now released draft formats along with detailed instructions for their compilation.
