SBI appoints Rama Mohan Rao Amara as MD

Rama Mohan Rao Amara was holding the position of 'deputy managing director & chief risk officer' of SBI until his appointment as MD.

Further, Kshitij Mohan, deputy managing director (SARG), has been given the additional charge of deputy MD & group chief risk officer, effective from 18 December 2024 as well.

State Bank of India (SBI) is an Indian multinational, public sector banking, and financial services statutory body. As of 30 September 2024, the Government of India held a 57.51% stake in the bank.

The largest PSU bank's standalone net profit rose 27.92% to Rs 18,331.44 crore on 15.13% increase in total income to Rs 129,141.11 crore in Q2 FY25 over Q2 FY24.

The scrip shed 0.88% to currently trade at Rs 831.70 on the BSE.