MUMBAI: The government has appointed Rama Mohan Rao Amara as the fourth managing director of State Bank of India, the nation’s largest lender informed the exchanges on Wednesday.
Amara's appointment is for a period of three years, the bank said, adding the appointement was cleared by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi on Wednesday.
In September, Amara was recommended for the position by the Financial Services Institutions Bureau (FSIB), the national headhunter for directors of state-owned banks and institutions.
Amara’s appointment is to fill the vacancy created by CS Setty, who became the chairman in October.
The FSIB had interviewed nine candidates for the post, FSIB said in a statement later.
"Keeping in view their performance in the interface, overall experience and the extant parameters, the bureau recommends Amara for the position of the MD in SBI," it said.
The SBI board is headed by chairman and assisted by four managing directors—Ashwini Kumar Tewari, Vinay M Tonse, Rana Ashutosh Kumar Singh, who took charge this June and has time till end November 2025.
Normally deputy managing directors or chief general managers are promoted as MDs. The heads of SBI subsidiaries, such as SBI Life, SBI General, SBI Caps, and SBI Cards, are also DMDs at the bank.
The second deck of the management of SBI has over a dozen deputy managing directors and over 50 chief general managers.