Nationalized banks EDs now eligible for MD of largest State Bank of India

The Executive Directors (EDs) of nationalized banks are now eligible for the post of Managing Director (MD) of country's largest State Bank of India (SBI). Financial Services Secretary Rajeev Kumar in the Ministry of Finance announced the decision on Monday which will further widen the talent pool of top managers for state-run banks. Earlier, the government had made Deputy Managing Directors (DMDs) of SBI eligible to be considered for the top post of Managing Director in nationalized banks.

"EDs of nationalized banks made eligible for selection as MD, SBI. Earlier, DMDs of SBI were made eligible to be MD in nationalized banks. Government's thrust to widen top-management talent pool and sharing of experience across PSBs continues," Kumar tweeted. Last September, five DMDs of SBI were appointed as MDs and CEOs of various nationalized banks as part of the government's effort to tap into the talent from SBI to help other banks.