The country’s largest lender State Bank of India has elevated five of its Chief General Managers (CGMs) to the post of Deputy Managing Directors (DMDs), according to a source at the bank.
Two of the five newly-appointed DMDs have already been given new assignments.
On the directions of the Reserve Bank, the bank has split the post of chief risk and credit officer into two separate posts which include chief risk officer and chief credit officer, the source told PTI.
MS Shastri, who has so far been looking after risk management, has taken over as chief risk officer (CRO), while Varsha Purandare, who was holding the post of chief risk and credit officer, will now on act as the chief credit officer only, the source added.
Mrityunjay Mohapatra has been appointed chief information officer to look after the IT department located at Belapur in New Mumbai.
The post of the CRO and CIO are also DMD level appointments. Karnam Sekar, who is heading the UP circle as CGM, has been promoted as a DMD and is awaiting the new assignment.
The two other newly-appointed DMDs who are yet to be given assignments are Shashi Kumar (CGM, Hyderabad) and Manju Agrawal (CGM, agri business) at the corporate office, the source added.