The Centre has sanctioned the appointment of Rama Mohan Rao as the Managing Director of the State Bank of India (SBI). Currently serving as the bank’s Deputy Managing Director, Amara will hold the position of Managing Director for a term of three years.
In a regulatory filing on Wednesday, SBI stated, referring to a government notification, that the appointment will take effect from the date the individual assumes charge of the position, or until further notice, whichever comes first.
Amara will be taking over the position left vacant after CS Shetty’s promotion to chairman of the country’s largest lender. The SBI board is led by chairman, supported by four managing Directors.
Amara is an experienced banker with over 29 years at State Bank of India (SBI). He was previously appointed as the MD and CEO of SBI Cards and payment services (SBI Card).
He began his banking career with SBI in 1991 as a probationary officer and holds a degree in engineering. Amara has extensive expertise in cedit, risk, and international banking, both in India and internationally.
He has held two overseas assignments: first in Singapore, and later in the US, where he served as CEO of the Chicago branch and as president and CEO of SBI California.
Shashi Rai
