Ram Mohan Rao selected for the post of Managing Director of SBI

New Delhi| The government has approved the appointment of Ram Mohan Rao Amara to the post of Managing Director of State Bank of India (SBI). SBI citing a government notification, told the stock exchange that its Deputy Managing Director Amara has been appointed as the Managing Director in the bank for a period of three years. He will fill the vacancy left by CS Shetty’s promotion as chairman of the country’s largest lender.

According to the report, the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi took this decision. In September this year, Amara was recommended for the post by the FSIB, formed to look for directors of public sector banks and institutions. With this appointment, the current Chairman of Amara Bank is set to fill the vacancy created by CS Shetty.

The Financial Services Institutions Bureau (FSIB) had interviewed nine candidates for the post of Managing Director of SBI. FSIB had given this information in a statement. “Considering his performance, overall experience and existing parameters, the Bureau recommends Ram Mohan Rao Amara for the post of MD in SBI”, the Bureau said.

The Board of Directors of SBI is headed by the Chairman, assisted by four Managing Directors. With the selection of Amara, SBI will get its fourth MD.