 "State Bank of India, SBI")
The government has for the first time opened up one managing director (MD) position at State Bank of India (SBI) to private-sector bankers, in a major overhaul of the way leadership is chosen in India’s public financial institutions.
It has also empowered the Financial Services Institutions Bureau (FSIB) to assess and recommend candidates, setting aside their Annual Performance Appraisal Reports (APARs).
In a letter to public-sector banks (PSBs) and state-owned life and non-life insurers, the Department of Financial Services (DFS) under the Ministry of Finance has communicated that the Appointments Committee of the Cabinet has approved the revised consolidated guidelines
