The Financial Services Institutions Bureau (FSIB) has recommended the appointment of Rana Ashutosh Kumar Singh for the position of Managing Director in State Bank of India and Asheesh Pandey for the position of MD & CEO in Indian Bank.

Singh is currently Deputy Managing Director (Retail- Personal Banking & Real Estate ) at SBI. FSIB had interfaced with 16 candidates on April 23 and 24, 2024 for the position of MD in SBI, per its statement.

Currently, India’s largest bank has four MDs -- Challa Sreenivasulu Setty, Managing Director (International Banking, Global Markets & Technology), Alok Kumar Choudhary, Managing Director (Risk, Compliance & SARG), Ashwini Kumar Tewari, Managing Director (Corporate Banking & Subsidiaries) and Vinay M Tonse, Managing Director (Retail Business & Operations).

Choudhary tenure as MD ends on June 30, 2024, when he will superannuate.

Pandey is currently Executive Director at Bank of Maharashtra (BoM). He took charge as ED of the public sector bank in December 2021. FSIB had interfaced with 17 candidates from various public sector banks on April 23 and 24, 2024 for the forthcoming positions of MD and CEO in public sector banks.

Prior to getting elevated as ED, Pandey was Chief General Manager and Chief Operations Officer at Union Bank of India.

Currently, Shanti Lal Jain is the MD and CEO of Indian Bank. He assumed charge on  September 1, 2021. Prior to this, he served as Executive Director of Bank of Baroda (BoB) for three years, from September 2018 to August 2021.