Ram Mohan Rao Amara Appointed as Managing Director of SBI
The government has appointed Ram Mohan Rao Amara as one of the Managing Directors (MDs) of the State Bank of India (SBI) for a three-year term. The announcement was made by the bank on Wednesday through an exchange filing.
Rao’s Appointment
Rao’s selection was recommended by the Financial Services Institutions Bureau (FSIB) in September this year. The position became vacant following the elevation of CS Setty to Chairman of SBI in August. Until his appointment as MD, Rao was serving as Deputy Managing Director and Chief Risk Officer at the bank.
Career Journey
Rao began his banking career in 1991 with SBI as a probationary officer. Over the years, he has gained expertise in diverse fields, including credit, risk management, retail banking, and international operations. He has held prominent positions in global markets, including serving as the CEO of SBI’s Chicago branch and later as President and CEO of SBI California, a wholly-owned retail banking subsidiary of SBI operating under U.S. laws. His extensive international exposure also includes assignments in Singapore and the U.S.
Within India, Rao has managed major roles. He was the Chief General Manager of SBI’s Bhopal Circle, overseeing a balance sheet of ₹3 trillion, 1,500 branches, and 16,000 employees. Prior to that, he was Chief General Manager of Financial Control at SBI’s Corporate Centre, responsible for areas such as planning, performance monitoring, asset-liability management (ALM), capital planning, and investor relations. As the MD & CEO of SBI Card from January 2021 to August 2023, Rao successfully improved the company’s financial and risk profile. Mr. Rao took the helm at SBI Card on 30 January 2021.
Educational and Professional Qualifications
Rao holds an engineering degree and is also a Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM). He is a Certified Associate of the Indian Institute of Bankers (CAIIB). These qualifications, combined with over three decades of experience at SBI, make him a seasoned banker well-versed in the complexities of the financial sector.
Looking Ahead
In his new role as MD of SBI, Rao is expected to bring his deep expertise in risk management, credit, and strategic planning to help steer India’s largest bank toward further growth and innovation.
