Prasad takes over from Vijay Jasuja who retired on January 31.
His appointment is effective February 1, 2018.
Prasad joined State Bank of India as a Probationary Officer in 1983, gaining experience in many areas of banking.
He has served in several locations spread across different circles and abroad, SBI Card said.
"As a leading card issuer with extensive reach across the country, we believe we can contribute significantly to India's digital revolution. We are committed to partnering in the endeavour to create a cashless society," Prasad said.
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