Government Approves New SBI Managing Director

The government has officially appointed Rama Mohan Rao Amara as the new managing director of the State Bank of India (SBI). Amara, who currently serves as the Deputy Managing Director, will take on his new role for a period of three years, effective from the date he assumes the position, as per a regulatory filing by the bank on Wednesday.

This appointment fills the vacancy left by the elevation of CS Setty to the position of chairman of the country's largest lender. The SBI board is structured with a Chairman and four managing directors. With the selection of Amara, SBI will now have its full complement of four MDs.

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