FSIB to conduct State Bank chairman interview on June 29

The interviews were originally scheduled for May 21-22, but called off abruptly.
FSIB to conduct State Bank
chairman interview on June 29

MUMBAI: The Financial Services Institutions Bureau (FSIB) will conduct the interviews for the next State Bank of India chairman on Saturday, a person familiar with the matter has said. The interviews were originally scheduled for May 21-22, but called off abruptly.

The incumbent chairman Dinesh Kumar Khara will retire on August 28, the day he is turning 63, after his extension on October 7. He was appointed the chairman of the bank on October 7, 2020. The role of the FSIB is to recommend the name and the final decision will be taken by the Appointments Committee of the Cabinet headed by the Prime Minister.

“The new date for the interviews to select next SBI chairman is slated for June 29. Only three MDs of the bank are in the race,” the person told the TNIE on Wednesday.

The three senior most managing directors (MDs) of the SBI are CS Setty, Ashwini Kumar Tewari, and Vinay M Tonse. The senior most MS Alok Kumar Choudhary is not eligible for the interview as he is retiring by June 30. The norm is that an MD to be eligible to attend the interview should have three years service left.

The top SBI management is headed by the chairman and four MDs. The FSIB has recommended the name of Rana Ashutosh Kumar Singh as a MD of SBI but he is not eligible for the interview as he is yet to assume charge, which will happen on June 30 only.

The second-rung management consists of a dozen deputy managing directors (DMDs) and dozens of chief general managers (CGMs). DMDs and CGMs are respectively eligible to become MDs and DMDs. All the heads of SBI subsidiaries like SBI Life, SBI General, SBI Caps and SBI Cards are headed by persons with DMD ranks in the bank.

Traditionally, and also by the SBI Act mandate, chairman is appointed from serving MDs, though there were a couple of exceptions to this in the past. The first instance was in 1985 when the government appointed DN Ghosh, an Indian Audit & Account Services officer, as chairman for a four-year term. Another occasion was when MN Goiporia, from Central Bank of India, came on board as chairman in February 1990, but his stint lasted for 2.5 years until end of July 1992. Since then, internal candidates, starting with Dipankar Basu in February 1993, have occupied the corner room on the 18 floor of the SBI Bhavan in Nariman Point.

The FSIB is an autonomous body responsible for making recommendations to appoint senior executives to public sector financial institutions. The bureau is headed by Bhanu Pratap Sharma, former secretary of the department of personnel and training, as its chairman, with the secretaries of the department of financial services and the department of public enterprises serving as its members, along with three outside expert members.

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