NEW DELHI: The Appointments Committee (ACC) of the Cabinet on Wednesday cleared the names of two officials — Swaminathan Janakiraman and Ashwini Kumar Tewari as new managing directors of State Bank of India (SBI) for a period of three years.
Both Tewari and Janakiraman, are eligible for the extension of their term of office after a review of their performance, according to an order issued by the Department of Personnel & Training. Currently, both are working with SBI. While Tewari is serving as MD and CEO of SBI Card, Janakiraman is working as the deputy managing director (finance), SBI.
With this exercise, the government has completed the process of appointment in PSU banks for the current fiscal. In October, 2020, the Banks Board Bureau (BBB) recommended the names for the two posts of managing director at the the country’s largest bank.
The bureau interviewed 16 candidates from SBI and nationalised banks for the two positions, BBB said in a statement. The two posts have been vacant since October last year. SBI is headed by chairman Dinesh Khara and assissted by four managing directors.