Now, another tool for SBI to resolve stress
May 09, 2021
Bank pursuing board approval for policy framework on pre-packs, says MD
State Bank of India sees the recently-introduced pre-packaged insolvency resolution process (PPIRP) for MSME corporates as another good tool in its armoury for resolving stress.
Swaminathan Janakiraman, Managing Director (Risk, Compliance and Stressed Assets Resolution Group (SARG), SBI, told
BusinessLine that the bank was putting together a policy framework for the same.
“We are putting together a board-approved policy framework for implementation of pre-pack among our MSME corporate customers. Over the next 4-6 weeks, we will start implementation and much would depend on how the ongoing second wave of Covid-19 plays out,” said Janakiraman. He made it clear that SBI would like to have multiple tools for resolving stress and that PPIRP cannot be a one-size fits all solution for the bank.
SBI Card appoints Rama Mohan Rao Amara as MD & CEO for 2 years
Earlier this week, Ashwini Kumar Tewari had resigned from the post of MD and CEO of SBI Cards owing to his appointment as the Managing Director of State Bank of India (SBI).
BusinessToday.In | January 30, 2021 | Updated 19:17 IST
Rao is a veteran banker, with a successful career spanning over 29 years at SBI.
SBI Cards and Payment Services Ltd (SBI Card) on Saturday appointed Rama Mohan Rao Amara as its Managing Director and Chief Executive Officer for a period of two years.
Rao took charge as the MD and CEO of the company on Saturday. Earlier this week, Ashwini Kumar Tewari had resigned from the post of MD and CEO of SBI Card owing to his appointment as the Managing Director of State Bank of India (SBI).
Stocks to watch today on January 28: Axis Bank, HUL, NTPC, Hero MotoCorp, Bank of India, PNB Housing, SBI among others are the top stocks to watch out for in Thursday s trading session
January 28, 2021
SBI Cards & Payment Services’ chief executive officer, Ashwini Kumar Tewari, has resigned from his position as of Thursday, as he has been appointed as a managing director at the State Bank of India (SBI), the credit card focused non-bank lender said in an exchange filing.
The electrical and electronics graduate from BITS Ranchi has been with SBI since 1993. Prior to this appointment at SBI Card, he was the country head of SBI’s operations in the United States, based out of New York. Tewari had taken charge of SBI Card only in August last year, after the previous CEO voluntarily retired from his position. Tewari joined the company back in 2017, overseeing its growth as a dominant player in the credit card industry until its stock listing in March last year just before the country went into lockdown due to the COVID-19 lockdown.
Government approves appointment of two SBI MDs
Both Tewari and Janakiraman, are eligible for the extension of their term of office after a review of their performance, according to an order issued by the Department of Personnel & Training.
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| A+A A- By Express News Service
NEW DELHI: The Appointments Committee (ACC) of the Cabinet on Wednesday cleared the names of two officials Swaminathan Janakiraman and Ashwini Kumar Tewari as new managing directors of State Bank of India (SBI) for a period of three years.
Both Tewari and Janakiraman, are eligible for the extension of their term of office after a review of their performance, according to an order issued by the Department of Personnel & Training. Currently, both are working with SBI. While Tewari is serving as MD and CEO of SBI Card, Janakiraman is working as the deputy managing director (finance), SBI.