The central government on December 18, 2024, appointed Mr. Rama Mohan Rao Amara as the Managing Director (MD) of the State Bank of India (SBI). Currently serving as Deputy Managing Director at SBI, Mr. Amara will assume the role for a term of three years.
Mr. Amara’s appointment fills the vacancy created by the elevation of Mr. C.S. Setty to Chairman of the country’s largest lender. SBI’s leadership structure comprises one Chairman and four Managing Directors, with the fourth MD position now occupied by Mr. Amara.
The Financial Services Institutions Bureau (FSIB) had recommended Mr. Amara’s name to the Appointments Committee of the Cabinet on September 2nd, 2024, following an interview process involving nine candidates.
Amara is expected to play a key role in strengthening SBI’s position in the banking sector and driving its strategic initiatives.
