Rama Mohan Rao Amara Recommended as SBI Managing Director by FSIB

The Financial Services Institutions Bureau (FSIB) has recommended Rama Mohan Rao Amara for the role of Managing Director at the State Bank of India (SBI). Currently the Deputy Managing Director, Amara is set to succeed C S Setty. The final decision will be made by the Appointments Committee of the Cabinet.

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rama Mohan Rao Amara for the position of managing director of State Bank of India (SBI).

Amara is currently Deputy Managing Director of the bank.

He will fill the vacancy created due to elevation of C S Setty as chairman of the country's largest lender.

The Financial Services Institutions Bureau (FSIB) interviewed 9 candidates for the position of managing director of SBI, FSIB said in a statement.

''Keeping in view their performance in the interface, overall experience, and the extant parameters, the Bureau recommends Rama Mohan Rao Amara for the position of MD in SBI,'' it said.

The SBI board is headed by Chairman assisted by four managing directors. With the selection of Amara, SBI will get its fourth MD.

The final decision on FSIB's recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

(With inputs from agencies.)