MUMBAI :The centre has approved the appointment of Alok Kumar Choudhary, deputy managing director of State Bank of India as the managing director for a period of 2 years. Choudhary, who was currently in charge of the finance portfolio, will now be in charge of corporate banking and information technology in his new role at SBI.
He replaces former MD Ashwani Bhatia who took charge as the whole time member of the Securities and Exchange Board of India (SEBI).
“The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Alok Kumar Choudhary,
Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office and up to the date of his superannuation (i.e. 30. 06.2024), or until further orders, whichever is earlier,” said the notification on Monday.
Prior to his appointment as DMD, Choudhary was the chief general manager of Delhi region for three years. He started his career with SBI as a probationary officer of 1987 batch. During the 32 years of his service with the bank, he has served in various geographical locations spread across circles.
With this appointment, SBI will have 4 managing directors led by the chairman. The three other MDs include CS Setty, MD in charge of retail banking; Swaminathan Janakiraman, MD in charge of stressed assets, risk and compliance; and Ashwini Kumar Tewari, MD in charge of international banking.
The central government has appointed Alok Kumar Choudhary as the managing director of India’s largest public sector bank, State Bank of India, a report said on Tuesday, June 7.
Choudhary will remain in the post for two years from now, that is, till the time of his retirement. This comes months after the Banks Board Bureau (BBB) on Wednesday recommended the name of Alok Kumar Choudhary for the post of managing director of State Bank of India in March.
Choudhary replaces former SBI MD Ashwani Bhatia who took charge as a whole time member of the Securities and Exchange Board of India days ago. Alok Kumar Choudhary currently serves as the deputy managing director of SBI, and will be promoted to the role of the managing director with the government’s approval to the appointment.
“The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Alok Kumar Choudhary, Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office and up to the date of his superannuation (i.e. 30. 06.2024), or until further orders, whichever is earlier,” said a notification on Monday.
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