June 10, 2022
India’s largest lender State Bank of India (SBI) has appointed Alok Kumar Choudhary as its new Managing Director (MD) with effect from June 7, 2022. He has replaced 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 the 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 SBI in a statement.
Apart from Choudhary, SBI with this appointment will have 4 MDs – 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 – led by the chairman Dinesh Kumar Khara.
Choudhary, who was previously Deputy Managing Director (Finance) at the bank, as the new MD of SBI will be handling the Retail Business & Operations of the lender. He has been associated with SBI for three and a half decades and started his career with the bank in 1987 as a Probationary Officer.
Choudhary, before becoming the DMD (Finance), has worked as DMD (HR) & Corporate Development Officer at SBI. He also had a stint as the Chief General Manager (CGM) of the SBI’s Delhi Circle for three years.
His past roles and profiles at SBI include GM, Network I, Ahmedabad; DGM, B&O, Delhi; as well as DGM & CDO, North-East Circle.
Source- Business Today
By- Priya Bharti