SBI Shakes Up the Top Deck: Meet the New Faces Steering India’s Biggest Bank

Image Source: The Indian Express

State Bank of India, the country’s largest lender, has announced a series of changes in its senior management team as it prepares for a new chapter of leadership. The moves come after several top executives reached retirement and as the government continues to shape the bank’s future direction.

Key Highlights:

Gulshan Malik, who served as Deputy Managing Director (Corporate Client Group-I), retired from SBI on May 31, 2025.
Ramesh Srinivas Rao has taken over as Deputy Managing Director (CCG-I) from June 1, 2025.
Rajeev Kumar steps into the role of Deputy Managing Director (Internal Audit) starting June 2, 2025.
Kishore Kumar Poludasu is now Deputy Managing Director (HR) and Chief Digital Officer.
Binod Kumar Mishra has assumed responsibilities as Deputy Managing Director and Chief Operating Officer.

In addition to these changes, the government recently approved Challa Sreenivasulu Setty as the next Chairman of SBI. Setty, who has been with the bank since 1988, will take charge for a three-year term after the current Chairman retires in August 2024.

Rana Ashutosh Kumar Singh has also been appointed as Managing Director, further strengthening the leadership bench.

These appointments reflect SBI’s ongoing efforts to maintain continuity and bring in fresh perspectives as it faces the challenges of digital transformation, regulatory demands, and an evolving banking landscape. The new team is expected to focus on operational efficiency, risk management, and expanding digital services to keep SBI at the forefront of India’s financial sector.

Sources: Business Standard, Babushahi, Moneycontrol