Rana Ashutosh Kumar Singh has officially taken on the role of Managing Director at State Bank of India (SBI), overseeing the risk compliance department and the stressed assets resolution group. His appointment was recently approved by the government.
Gajendra Singh Rana, previously the Chief General Manager of SBI’s Mumbai circle, has stepped into Singh’s former role as Deputy Managing Director in charge of retail and real estate.
Singh assumed his new position last Thursday, following the government’s order. For now, he will manage the departments that were under the previous MD, Alok Choudhary. However, it’s up to the incoming chairman to decide if any reshuffling of MD posts will happen.
Last Wednesday, the Appointments Committee of the Cabinet (ACC) approved the appointment of CS Setty as the next chairman of SBI, starting his three-year term after Dinesh Khara retires on August 28.
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