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State Bank of India Appoints Shri Rama Mohan Rao Amara as Managing Director
Team Finance Saathi
18/Dec/2024
What's Covered under the Article:
- Shri Rama Mohan Rao Amara appointed as Managing Director of State Bank of India.
- The appointment is effective from December 18, 2024, for a period of three years.
- SEBI compliance regarding the disclosure and appointment process followed.
On December 18, 2024, Shri Rama Mohan Rao Amara, the Deputy Managing Director and Chief Risk Officer of State Bank of India (SBI), has been officially appointed as the Managing Director of the bank. This announcement follows the notification issued by the Ministry of Finance, Government of India, under Notification No. 2/1/2024-BO.I.
Appointment Details:
- Position: Managing Director of State Bank of India
- Effective Date: Date of assumption of charge or until further orders
- Term Duration: Three years
- Previous Role: Deputy Managing Director & Chief Risk Officer of SBI
The Central Government has exercised its powers conferred under Section 19 and Section 20 of the State Bank of India Act, 1955 to make this appointment. As per the notification, Shri Rama Mohan Rao Amara is not debarred from holding the office of director by any order from SEBI or any other regulatory authority.
The full SEBI (LODR) disclosure regarding the appointment will be provided by the bank in due course.
Background of Shri Rama Mohan Rao Amara:
Shri Rama Mohan Rao Amara has had a distinguished career at State Bank of India, holding multiple leadership roles. Before his appointment as the Managing Director, he served as Deputy Managing Director and was also responsible for risk management at the bank. His extensive experience in banking operations and risk management positions him to lead SBI into its next phase of growth.
This appointment is a key development for State Bank of India, as it continues to strengthen its leadership with a focus on sustainable banking practices, risk mitigation, and enhanced customer service across its vast network.
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