Government opens managing director post at SBI to other PSB executives

Many of today's executive directors at the PSBs were first employed in the 1980s through a competitive process, at a time when job opportunities were limited

From now on executive directors at state-owned banks can compete for the post of managing director (MD) at the country's largest lender, the State Bank of India (SBI).

On Monday, the government decided to allow executive directors of state-owned banks to apply for the post of managing director at SBI. By convention the post of managing director at SBI was only open to deputy managing directors (DMDs) either positioned within the country's largest bank or the wider SBI-group. 

Rajeev Kumar, Secretary  of the Department of Financial Services at the Ministry of Finance, said, "Earlier DMDs of SBI were made eligible to be