Today, State Bank of India (SBI) is in the spotlight because they just announced their new Managing Director (MD), Rama Mohan Rao Amara. According to an official notice from the Indian government, he will take over this important role. Rama Mohan Rao Amara previously held the position of Deputy Managing Director and was also in charge of managing risks at the bank.
His appointment as MD is for three years and will begin once he officially starts the job. Meanwhile, Kshitij Mohan, who was also a Deputy Managing Director, will now take over as the Deputy Managing Director & Group Chief Risk Officer.
SBI’s shares have been doing well over the past year, increasing by 29.3%. Since the beginning of this year, they are up by 30.7%. However, in the last six months, the stock has dipped slightly by 0.66%, though it has risen by 5.9% over the last three months. On Wednesday, SBI shares closed at Rs 839.05, down by 1.3%.
Disclaimer: This news is based on reports and opinions of experts and does not reflect the views of Niftystat.
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