State Bank of India (SBI) announced that the Centre has appointed Rama Mohan Rao Amara as its new Managing Director for a three-year term.

• The decision was made by the Appointments Committee of the Cabinet, .
• Amara was previously serving as the Deputy Managing Director and Chief Risk Officer.
• He was recommended for the role by the Financial Services Institutions Bureau (FSIB) in September this year.
• FSIB, the body responsible for selecting directors of state-owned banks, interviewed nine candidates for the position. Amara’s appointment fills the vacancy created by CS Setty, the current Chairman of SBI. 
• The FSIB, in its statement, noted that Amara was selected based on his performance during the interview, his extensive experience, and his alignment with key criteria for the role.
• SBI's board is led by the Chairman, assisted by four managing directors. With Amara’s appointment, the bank will now have its fourth managing director.