SBI Life Deputy CEO to Transition to Managing Director & CEO at SBI DFHI

Veeraraghavan Srinivasan, Deputy CEO of SBI Life Insurance, will step down effective from May 24. He will take on the role of Managing Director & CEO of SBI DFHI Ltd in Mumbai, an entity crucial for the primary auctions of government securities.

SBI Life Insurance on Wednesday said its Deputy CEO Veeraraghavan Srinivasan will relinquish office from the close of business hours on May 24.

SBI Life in a regulatory filing said its promoter State Bank of India (SBI) has informed the company that Srinivasan has been posted as Managing Director & CEO of SBI DFHI, Mumbai.

''State Bank of India by way of its communication has informed the company that Deputy Chief Executive Officer Veeraraghavan Srinivasan has been posted as Managing Director & CEO in SBI DFHI Ltd, Mumbai,'' SBI Life Insurance said.

SBI DFHI Ltd is a standalone primary dealer, an institution created by the Reserve Bank of India (RBI) to support the book-building process in primary auctions of government securities. Srinivasan will be relieved from his duties as Deputy Chief Executive Officer of SBI Life Insurance from the close of business hours of May 24, it added.