Govt opens managing director post at SBI to other PSB executives

In the last few months, some of DMDs from SBI have been appointed as chief executives and MDs for the public sector banks

From now on, executive directors at state-owned banks can compete for the post of managing director (MD) at the country’s largest lender, the State Bank of India (SBI). 

On Monday, the government decided to allow executive directors of state-owned banks to apply for the post of managing director at SBI. By convention, the post of managing director at SBI was only open to deputy managing directors (DMDs) either positioned within the country’s largest bank or the wider SBI-group. 

Rajeev Kumar, secretary of the Department of Financial Services at the Ministry of Finance, said, “Earlier, DMDs of SBI were made eligible to be