New SBI MD: Ravi Ranjan Takes Charge With Immediate Effect; Tenure Till 2028

The central government has appointed Ravi Ranjan as the new Managing Director of India's largest public sector lender, the State Bank of India, according to an exchange filing on Monday.

Ranjan will be the MD till Sept. 30, 2028 and his appointment has come into effect from on Dec. 15 onwards.

"The Central Government hereby appoints Shri Ravi Ranjan, Deputy Managing Director in State Bank of India as Managing Director in State Bank of India with effect from the date of his assumption of charge of the office, till the date of his attaining the age of superannuation i.e., 30.09.2028, or until further orders, whichever is earlier", the filing stated.

It added that the new MD is not debarred from holding the office of director by virtue of any SEBI order or any other such authority and not disqualified from holding the office of director.

As the Managing Director Ranjan is now responsible for Risk, Compliance, and Stressed Assets Resolution Group (SARG) verticals of the Bank, as per the filing.

Ranjan carries experience of more than 34 years of working in different domains of banking and finance.

Before being appointed as SBI's MD, he served as Deputy Managing Director or DMD, Global Markets for more than a year and also served as DMD, Corporate Accounts Group or CAG.

As Chief General Manager (CGM), he headed SBI Chennai Circle and covered the state of Tamil Nadu and Puducherry and also served as President and Chief Operating Officer or COO at SBICAPS, Mumbai. Earlier, he headed the Retail Network as GM in Bengaluru.

Ranjan has also done two foreign assignments, at Hong Kong, where he looked after Debt Syndications, and at Los Angeles, California.

He is a career banker who joined the Bank as Probationary Officer in 1991.