ACC approves appointment of Ravi Ranjan as MD of State Bank of India

The Appointments Committee of the Cabinet (ACC) on Monday approved the proposal of the Department of Financial Services for the appointment of Ravi Ranjan as managing director (MD) of State Bank of India (SBI).

 

Ranjan, who is currently serving as deputy managing director (DMD) in SBI, will take charge as MD with effect from the date he assumes office. He will hold the position until he attains the age of superannuation on September 30, 2028, or until further orders, whichever is earlier. Born on September 21, 1968, Ranjan brings extensive experience within SBI, where he has held several key leadership roles.

 

 

In September 2025, the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, had recommended Ravi Ranjan for the position of managing director of SBI, replacing Managing Director Vinay M Tonse, whose term completed on November 30, 2025.

 

The SBI board is headed by a chairman, assisted by four managing directors. The Appointments Committee of the Cabinet is headed by Prime Minister Narendra Modi.

 

According to the SBI exchange filing, Ranjan is responsible for the risk, compliance and stressed assets resolution group (SARG) verticals of the bank. Prior to becoming MD, he served as deputy managing director (DMD), global markets, for more than a year and also served as DMD, corporate accounts group (CAG). As chief general manager (CGM), he headed SBI’s Chennai Circle (covering the state of Tamil Nadu and Puducherry) and also served as president and chief operating officer (COO) at SBICAPS, Mumbai. Earlier, he headed the retail network as general manager in Bengaluru. Ranjan has done two foreign assignments, at Hong Kong (looking after debt syndications), and at Los Angeles, California.

 

“He is a career banker who joined the bank as a probationary officer in 1991. He carries a rich experience of more than 34 years of working in different domains of banking and finance,” it said.