New Delhi: The Financial Services Institutions Bureau (FSIB) has recommended Ravi Ranjan, currently Deputy Managing Director of the State Bank of India (SBI), for appointment as Managing Director of the country’s largest lender. The recommendation follows a rigorous selection process involving interviews of nine candidates on September 11, 2025.
Rigorous Selection Process to Fill Key SBI Leadership Role
The FSIB evaluated the candidates based on their performance, experience, and suitability aligned with established benchmarks. After a detailed assessment, Ravi Ranjan emerged as the preferred choice for the critical leadership position.
Vacancy to Arise Following Retirement of Veteran Banker
The Managing Director position will become vacant on November 30, 2025, when incumbent Vinay M Tonse retires. Tonse is credited with successfully managing several key portfolios at SBI during his distinguished career.
SBI’s Leadership Structure and Importance of the Role
SBI’s management team includes a Chairman and four Managing Directors, each responsible for overseeing major operational areas of the bank. The Managing Director’s role is vital in steering the bank’s strategic and operational objectives.
Next Steps: Appointment Committee of the Cabinet to Approve
The FSIB’s recommendation will now be forwarded to the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, for final approval. Once approved, Ravi Ranjan will officially assume charge as Managing Director of SBI, marking a significant milestone in his banking career.
About FSIB
The Financial Services Institutions Bureau (FSIB) is an autonomous body of the Government of India responsible for recommending candidates for Whole-Time Directors and Non-Executive Chairpersons on the boards of public sector financial services institutions and advising on related personnel management matters. Established on July 1, 2022, the Bureau’s aim is to improve governance and leadership quality in public sector financial institutions by ensuring timely recommendations and selecting suitable candidates for board-level positions.
About SBI
State Bank of India (SBI) is India’s largest public sector bank. With a strong domestic and international presence, SBI provides a wide range of banking and financial services, playing a critical role in India’s economic growth and financial inclusion initiatives.
