Rama Mohan Rao Amara Appointed as Managing Director of State Bank of India
| Why in News | Key Points |
|---|---|
| Appointment of Rama Mohan Rao Amara as SBI MD | 1. Rama Mohan Rao Amara appointed as Managing Director of State Bank of India (SBI) for 3 years. |
| 2. Replaces CS Setty, who became Chairman of SBI in August 2024. | |
| 3. FSIB recommended Amara's name after interviewing 9 candidates. | |
| 4. Amara has been with SBI since 1991, previously Deputy Managing Director and Chief Risk Officer. | |
| 5. His career includes leadership roles in SBI's global operations (e.g., CEO of SBI's Chicago branch and President and CEO of SBI California). | |
| SBI Overview | 1. State Bank of India (SBI) is the largest public sector bank in India. |
| 2. Headquartered in Mumbai, Maharashtra. | |
| 3. SBI plays a critical role in India's banking sector and financial initiatives. | |
| 4. SBI's leadership includes a Chairman and four Managing Directors. | |
| FSIB (Financial Services Institutions Bureau) | 1. The FSIB is responsible for appointing directors in state-owned banks and financial institutions. |