Mumbai: India’s largest lender State Bank of India ISBI) said Thursday that Swaminathan J and Ashwini Kumar Tewari have taken charge as managing directors (MDs). They would be holding this position for up to three years, the SBI said in a release.
Before his elevation, Swaminathan was the deputy managing director (finance) at SBI. He was overseeing budgeting, capital planning, financial reporting, taxation, audit, economic research, investor relations and secretarial compliance.
Tewari served SBI Card as managing director and chief executive officer before he was appointed as MD (Managing Director) of the bank.
In October last year, the Banks Board Bureau (BBB) had recommended the names for the two posts of managing directors at SBI. It had interviewed 16 candidates from various nationalised banks and SBI last year, according to the information available on BBB’s website. The two posts of MDs were lying vacant since October last year.
SBI is headed by chairman, Dinesh Khara and is assisted by four managing directors. The other two MDs are CS Setty and Ashwani Bhatia.