“Bank Board recommends names for two SBI MDs”

BANKING AND FINANCE NEWS OCT 06,2020

The Banks Board Bureau (BBB) Monday recommended the candidatures of Swaminathan Janakiraman and Ashwini Kumar Tewari for the two vacant managing director posts at the State Bank of India NSE 0.93.

While Janakiraman is now the deputy managing director – finance at SBI, Tewari heads the SBI Cards and Payment Services.

Janakiraman had joined the country’s largest lender in 1988 as a probationary officer and worked across the verticals both in India and New York.
similarly, Tewari was appointed as MD and CEO at the SBI Cards a few months ago as the incumbent Hardayal Prasad opted for voluntary retirement. In his previous role, Tewari was the country head of the US operations of SBI since April 2017.

The BBB interfaced with 16 candidates from various nationalised banks and State Bank of India on October 5, for vacancies of Managing Director in SBI, the bureau said.

Two other candidates including Prakash Chandra Kandpal and Alok Kumar Choudhary have been put on the reserve list for the vacancies.

Kandpal now heads SBI General Insurance as MD and CEO. Choudhary is the deputy managing director at SBI looking after human resources and corporate developments.

“SC asks Centre, RBI to file Kamath panel suggestions, their decisions on loan moratorium”

The Supreme Court on Monday demanded to know if the government had taken any follow-up action by way of issuing any notifications to give effect to its recent offer to waive interest on interest on loans up to ₹2 crore in eight categories under its loan moratorium scheme for those affected by the pandemic.

A three-judge bench led by Justice Ashok Bhushan said the recent finance ministry affidavit had not addressed many issues pending before court. “When will it be done? This has been going on for long,” Justice MS Shah said.

“No consequential circular has been issued by the Reserve Bank of India or any other authority,” said Bhushan. “Give details on how banks will proceed with this plan,” the bench told Solicitor General Tushar Mehta. “… whatever recommendations by the Kamath committee… are to be considered by the Centre, as well as RBI… necessary orders (should) be issued to implement those recommendations, so that benefit which accrues from the report may percolate to all the needy persons.”

BY PRAVEEN PARIHAR

 

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