FSIB recommends Rana Ashutosh Kumar Singh for the position of MD, SBI

25 Apr 2024 , 03:35 PM

On Wednesday, the Financial Services Institutions Bureau (FSIB) for directors of state-owned banks and financial institutions, proposed Rana Ashutosh Kumar Singh for the position of Managing Director of the State Bank of India (SBI). Singh is currently acting as SBI's deputy managing director.

In a statement, the Financial Services Institutions Bureau (FSIB) announced the results of the screening process, stating that 16 candidates were interviewed on April 23 and 24.

"It said, based on their performance in the interface, their overall experience, and existing parameters, the Bureau recommends Rana Ashutosh Kumar Singh for the MD position at SBI."

The Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, will make the final decision on the FSIB recommendation.

Bhanu Pratap Sharma, the former Secretary of the Department of Personnel and Training (DoPT), heads the FSIB.

The headhunter team also includes Animesh Chauhan, former chairman and MD of the former Oriental Bank of Commerce, Deepak Singhal, former executive director of the RBI, and Shailendra Bhandari, ex-MD of the former ING Vysya Bank.

Rana Ashutosh Kumar Singh previously served as SBI's Deputy Managing Director (Retail - Personal Banking & Real Estate), having joined the bank as a probationary officer on August 1, 1991. Singh has worked a variety of responsibilities in the bank over the last 32 years.

Singh's career has included significant responsibilities in retail banking, credit, human resources, and international banking. In addition to his responsibilities in India, he has been the CEO of the Frankfurt Branch in Germany.

Singh is a Certified Associate of the Indian Institute of Bankers and has an MBA (PGEMP) from the S.P. Jain Institute of Management & Research in Mumbai. He has developed his leadership abilities and knowledge by participating in Leadership Development Programmes at prestigious universities such as Harvard Business School, the Indian School of Business in Hyderabad, and Stanford Graduate Business School.

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