• Rajiv Ranjan, who was previously serving as Deputy MD (DMD)of SBI, succeeded Vinay M. Tonse whose tenure expired on November 30, 2025.

• What? Appointment of MD of SBI
• Who? Rajiv Ranjan
• Appointment Approved by: ACC, chaired by PM Narendra Modi
• Effective from: December 15, 2025
• Name Proposed by: DFS, MoF
• Predecessor: Vinay M. Tonse
• Term: Until his Superannuation on September 30, 2028 or until further orders, whichever is earlier

Key Details of Appointment:
Effective From: Following the approval of ACC, DFS officially notified the appointment of Ranjan as new MD of SBI with effect from December 15, 2025.
Tenure: As per the official notification, issued by DFS in exercise of powers under the State Bank of India (SBI Act, 1955), Ranjan will hold this post until his superannuation on September 30, 2028, or until further orders, whichever is earlier.
Key Functions as MD: After assuming charge as MD of SBI, Ranjan is now responsible for the risk management, compliance and Stressed Assets Resolution Group (SARG)
About Rajiv Ranjan:
Banking Career: Ranjan started his career as banker by joining the SBI as Probationary Officer (PO) in 1991.
Experience: He has an extensive career of more than 34 years across various banking and financial services verticals.
Previous Roles: Prior to his appointment as MD, Ranjan served as DMD for Global Markets for over a year and also worked as DMD of Corporate Accounts Group (CAG).
Leadership Roles in SBI: During his 3-decade long career in SBI, he held several senior leadership roles in SBI such as: served as Chief General Manager (CGM) at SBI’s Chennai Circle, covering the state of Tamil Nadu (TN)
and Union Territory (UT) Puducherry; and served as President and Chief Operating Officer (COO) at SBICAPS, Mumbai (Maharashtra).
Global Assignments: He also worked as Vice President (VP) and Head-Syndications at SBI’s Hong Kong operations; and in Los Angeles, California, the United States of America (USA).