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The State Bank of India is one of the biggest public sector banks in India. It has also emerged in several other countries such as the UK, US, Japan, Hong Kong and many others. It was first established in the year of 1806 under a different name altogether. Over the years with the evolution of technology, many new banking services have come up and it is important to know some of the key figures who have contributed to its development. Two of these key figures are Mr Ashwini Kumar Tewari who was earlier the MD and CEO of SBI Cards and Payment Services Ltd and is now been the MD of SBI and also SBI nominee director at SBI General Insurance.
State Bank of India: Brief background
The State Bank of India branched out from the bank of Calcutta established in 1806. Bank of Calcutta was later called the Bank of Bengal. These banks were present in all three of the presidential provinces which were Bengal, Madras and Bombay. Before the Reserve Bank of India gained all imperial control over all the banks in India it was the State Bank that had the power over all the other banks; which was not much during that time.
The current headquarters of the State Bank of India is located in Mumbai and to date, it operates as a public sector bank and is known as one of the largest banks in India. State Bank is also considered one of the largest employing companies in India. The State bank as we know it today has been a result of the joining hands of more than 20 banks over 200 years. The Reserve Bank of India holds a 60% stake in the State Bank of India.
Who is Ashwini Kumar Tewari?
Mr Ashwini Kumar Tewari has been in charge of the US Operations of the State Bank of India since when he was appointed in 2017. Currently, he holds the position of managing director or MD of the State Bank of India. The reason he owns the prestigious position of MD of SBI or State Bank of India is due to his vast experience in the field of banking and the various certifications he has to hold to his name. He is estimated to have almost 27 years of experience in the banking sector. Mr Ashwini Kumar Tewari is formally educated and holds a bachelor’s degree in the field of electrical engineering. He is also a holder of certifications like CFP and CAIIB and a certificate from XLRI. His prior experience in business, human resource management and administration makes him a very eligible candidate for the post of MD of SBI.
Before holding the posts of MD of SBI he was also the General manager and regional head of East Asia State Bank of India. He also made his contributions by participating in the developments of the State Bank in other countries like Japan, Korea, China and Hong Kong.
Who is the governor of the State Bank of India?
The current Chairman of the state bank of India is Mr Dinesh Kumar Khara. Since this is the largest public sector bank, the chairperson is appointed by the Government of India. He assumed the position as the governor of SBI in the year 2020. He holds a postgraduate degree in commerce. He has also held the position of MD once and contributed to the development of various subsidiary schemes during his time.
Conclusion
We saw how the State Bank was established and how it has grown multifold over the years. We also discussed the two prominent figures, the MD of the State Bank of India.
