Mumbai: State Bank of India (SBI), the country’s largest public sector lender, has announced key changes in its senior management team. The transition comes with the retirement of Surender Rana, Deputy Managing Director (Retail-Agri & SME), on August 31, 2025.
Leadership Transition at SBI
Following Rana’s superannuation, Rajesh Kumar has been appointed as the new Deputy Managing Director (Retail-Agri & SME). He assumed charge on September 1, 2025. This leadership shift reflects SBI’s continued focus on strengthening its retail, agriculture, and SME banking segments.
The Retail-Agri & SME portfolio is among SBI’s core business verticals, serving millions of customers across urban and rural India. With Kumar’s appointment, the bank aims to reinforce its commitment to inclusive growth and financial empowerment.
Rajesh Kumar’s Banking Journey
Rajesh Kumar brings over 32 years of rich banking experience across multiple domains, including corporate and retail banking, credit, and foreign exchange operations. His career spans postings in SBI’s extensive branch network as well as forex-intensive divisions in Mumbai.
Notably, Kumar has also served as a Forex Dealer in the International Banking Division, gaining hands-on expertise in managing high-value forex transactions. His versatile career background positions him well to drive strategic growth in retail, agriculture, and SME banking.
About State Bank of India
State Bank of India (SBI) is India’s largest commercial bank, with a widespread presence through over 22,000 branches and 63,000 ATMs across the country. As a Fortune 500 company and a trusted financial institution, SBI plays a pivotal role in supporting India’s economic growth, particularly through retail banking, rural credit, and SME financing.
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