BackSBI MD posts: BBB recommends Swaminathan Janakirman, A K Tewari
The two positions of managing director in State Bank of India will become vacant this monthThe country's largest bank SBI is headed by chairman with four managing directors to assist
PremiumThe Banks Board Bureau (BBB) has recommended the names of Swaminthan Janakiraman and Ashwini Kumar Tewari for the two posts of managing director at the State Bank of India. "Keeping in view their performance in the interface and extant parameters, the Bureau recommends the following names in order of merit — Swaminthan Janakiraman for the first vacancy of MD in SBI and Ashwini Kumar Tewari for the second vacancy of MD in SBI," it said. The bureau interviewed 16 candidates from SBI and nationalised banks for the two positions of managing director in State Bank of India, BBB said in a statement. Prakash Chandra Kandpal and Alok Kumar Choudhary are the candidates on the reserve list for the said vacancies, in this order, it said.
Swaminthan Janakiraman is currently deputy managing director (Finance) at country's largest lender. Ashwini Kumar Tewari is presently serving as managing director and chief executive of SBI Card, a subsidiary of SBI.
The two posts will become vacant this month. Arjit Basu, managing director, will retire in October. The headhunter for state-owned banks and financial institutions earlier Dinesh Kumar Khara, the present managing director (subsidiaries and associates), for the post of chairman at SBI.
The country's largest bank SBI is headed by chairman with four managing directors to assist. With this exercise, the government has completed the process of appointment in PSU banks for the current fiscal.
Constituted in 2016, the Banks Board Bureau is body of eminent professionals and officials that make recommendations for appointment of whole-time directors as well as non-executive chairpersons of public sector banks (PSBs). After reviewing the suggestions, the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi, take the final decision on the appointments. The bureau has been entrusted with the task of engaging with the board of directors of all PSBs to formulate appropriate strategies for their growth and development.
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