Rama Mohan Rao Amara will be SBI's next Managing Director
The Financial Services Institutions Bureau (FSIB), the recruitment body for directors of state-owned banks and financial institutions, has proposed Rama Mohan Rao Amara as the new Managing Director of State Bank of India (SBI). Currently serving as Deputy Managing Director at SBI, Amara is set to succeed C S Setty who was recently promoted to Chairman. This nomination follows an extensive selection process involving nine potential candidates.
FSIB's endorsement of Amara
In a statement, the FSIB expressed its support for Amara's appointment as SBI's Managing Director. The bureau stated, "Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rama Mohan Rao Amara for the position of MD in SBI." This endorsement comes after evaluating each candidate's performance during interviews, and considering their overall banking experience.
SBI's board structure and final decision on appointment
The SBI board is composed of a Chairman and four Managing Directors. With Amara's nomination, the bank is on track to appoint its fourth managing director. However, the final decision regarding FSIB's recommendation lies with the Appointments Committee of the Cabinet (ACC), which is chaired by Prime Minister Narendra Modi.
