FSIB to conduct interviews for chairman's position of SBI on Saturday

The Financial Services Institutions Bureau (FSIB) will conduct interviews for the chairman’s position of the State Bank of India (SBI) on Saturday, said a person directly familiar with this matter.

"The fresh date for the interview of the SBI chairman is June 29. Only three managing directors of the bank are in the race. The result of the interview is expected on the same day," said the official.

Earlier, the interviews were scheduled to be held on May 21-22 to recommend a candidate for the post of chairman of India's largest public sector bank by the FSIB.

The source further added that the three managing directors (MDs) of SBI who are the front-runners for the chairman’s post are C S Setty, Ashwini Kumar Tewari, and Vinay M Tonse. The FSIB has already recommended the name of Rana Ashutosh Kumar Singh as a managing director of SBI.

In October 2023, Khara’s tenure was extended until he attends the age of 63 on August 28, 2024. He was appointed as chairman of the country’s largest commercial bank on October 7, 2020.

As per convention, the chairman is appointed from a pool of serving managing directors of SBI. FSIB will recommend the name and the final decision would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

The FSIB is an autonomous body responsible for making recommendations for appointing senior executives to public sector financial institutions. Established in 2022, the bureau is headed by former Secretary of the Department of Personnel and Training, Bhanu Pratap Sharma, as its chairman, with the secretaries of the Department of Financial Services and the Department of Public Enterprises serving as its members, along with other expert members.