Rama Mohan Rao Amara appointed as the MD and CEO of SBI Card

SBI Cards and Payment Services (SBI Card) today said Rama Mohan Rao Amara has taken charge as the new MD and CEO of the company.

His appointment is with effect from 30 January , 2021 for a period of two years subject to all the requisite approvals including that of the shareholders.

Amara takes over from Ashwini Kumar Tewari, SBI Card said in a release.

Mr. Rama Mohan Rao Amara is a veteran banker, with a successful career spanning over 29 years at the State Bank of India. Prior to taking charge at SBI Card, Mr. Rao was the Chief General Manager, SBI Bhopal Circle, where he managed two key states MP & Chhattisgarh.

Mr. Ashwini Kumar Tewari, Managing Director, State Bank of India said, "We are pleased to welcome Mr. Rama Mohan Rao Amara as the MD & CEO of SBI Card. He has exhibited reliable and proficient leadership, while managing key assignments across India and abroad. His vision and strategic approach would be a key enabler to lead the rapidly growing credit card business. We are confident that he will be able to further strengthen SBI Card's position and thereby increase value for all stakeholders."

Mr Rama Mohan Rao Amara, MD & CEO, SBI Card said, "It is an exciting time to join SBI Card. The Indian economy is slowly but surely coming out of the grip of the pandemic. With a renewed focus towards cashless and digital payments, the country is firmly on the path to becoming a digital economy. Moreover, the Indian credit card market continues to present significant growth potential due to its favourable demographic changes and extremely low credit card penetration rate.

SBI Card is known and respected as a customer centric, resilient, and nimble organization. I look forward to leading the organisation to newer heights." Mr. Rao started his banking career with SBI in 1991 as a probationary officer. He has gleaned expertise in field of credit, risk, and International Banking, both, in India and abroad. He has had

two foreign postings first in Singapore and later at the US, as CEO of Chicago branch and then as the President and CEO of SBI California. He has also served as Chief General Manager, Financial Control at SBI Corporate Centre in Mumbai.

Mr. Rao holds a bachelor's degree in Engineering. He has also displayed academic rigor by earning globally renowned financial accreditations namely CFA and FRM.