Bank Board recommends names for two SBI MDs

The Banks Board Bureau (BBB) Monday recommended the candidatures of Swaminathan Janakiraman and Ashwini Kumar Tewari for the two vacant managing director posts at the State Bank of India.

While Janakiraman is now the deputy managing director – finance at SBI, Tewari heads the SBI Cards and Payment Services.

Janakiraman had joined the country’s largest lender in 1988 as a probationary officer and worked across the verticals both in India and New York.

Similarly, Tewari was appointed as MD and CEO at the SBI Cards a few months ago as the incumbent Hardayal Prasad opted for voluntary retirement. In his previous role, Tewari was the country head of the US operations of SBI since April 2017.

The BBB interfaced with 16 candidates from various nationalised banks and State Bank of India on October 5, for vacancies of Managing Director in SBI, the bureau said.

Two other candidates including Prakash Chandra Kandpal and Alok Kumar Choudhary have been put on the reserve list for the vacancies.

Kandpal now heads SBI General Insurance as MD and CEO. Choudhary is the deputy managing director at SBI looking after human resources and corporate developments.

Last week, the banking behemoth appointed Charanjit Attra, a consultant with EY, as its chief financial officer (CFO). This was the first time the bank is hiring laterally for the position.

A vacancy was created in March this year after the bank’s former CFO Prashant Kumar put in his papers to join Yes Bank as an RBI-appointed MD & CEO to implement a rescue package.

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