The Financial Services Institutions Bureau (FSIB) on Monday (02.09.2024) recommended the appointment of Rama Mohan Rao Amara to the post of Managing Director (MD) in State Bank of India (SBI). Amara is currently Deputy Managing Director at SBI. FSIB had interfaced with 9 candidates on September 2 for the position of MD in SBI.
Amara is expected to fill the vacancy created due to elevation of C S Setty as Chairman of SBI.
The SBI board is headed by Chairman assisted by four managing directors. With the selection of Amara, SBI will get its fourth MD.
The final decision on FSIB’s recommendation will be made by the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi.
Prior to getting transferred to SBI in July 2023, Amara was MD & CEO at SBI Card, the country’s largest pure play credit card issuer. He was appointed as MD & CEO of SBI Card in January 2021.
