SBI rearranges portfolio of MDs and DMDs

State Bank of India (SBI) on Tuesday changed portfolios of some of its top officials with the appointment of Vinay M Tonse as the fourth managing director of the bank. Tonse will now look after retail banking and operations, SBI said in a regulatory filing.

The portfolio was with Alok Kumar Choudhary earlier. Choudhary has been entrusted with the new responsibility of Managing Director looking after Risk, Compliance & Stressed Assets Resolution Group (SARG).

Ashwini Kumar Tewari has been entrusted with new responsibility as Managing Director of corporate banking and subsidiaries, it said. Earlier, Swaminathan J, who has been elevated as RBI Deputy Governor, was looking after this portfolio.

Mahesh Kumar Sharma, Deputy Managing Director (DMD) has been entrusted with new responsibility as DMD (Transaction Banking & New Initiatives), it said. Another DMD Rana Ashutosh Kumar Singh has been entrusted with new responsibility as DMD Retail.

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