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Govt Appoints Vinay Tonse As MD, SBI
The news comes after the Financial Services Institutions Bureau (FSIB) recommended Tonse as SBI’s managing director on 4 September
According to CNBC-TV18, the government appointed Vinay M Tonse, currently the deputy managing director of India's largest public lender State Bank of India (SBI), as its managing director (MD) on Monday.
According to the report, the new MD will serve until November 2025. On 4 September, the Financial Services Institutions Bureau (FSIB) recommended Vinay M Tonse as SBI's managing director.
"Keeping in view their (13 interviewed candidates) performance in the interface their overall experience and the extant parameters, the Bureau recommended Vinay M Tonse for the position of MD in SBI," according to a press release issued by the FSIB.
Following Swaminathan Janakiraman's appointment as Deputy Governor of the Reserve Bank of India, the position became vacant.
Tonse is currently the SBI’s deputy managing director. The country’s largest bank has four managing directors and one chairman.
