FSIB recommends Vinay Tonse for MD position in SBI

Tonse is currently serving as deputy managing director at SBI.

New Delhi: FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Vinay M Tonse for the post of Managing Director of State Bank of India (SBI).

The post fell vacant after the appointment of Swaminathan Janakiraman as Deputy Governor of the Reserve Bank.

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Tonse is currently serving as deputy managing director at SBI.

The country’s largest lender has four managing directors and one chairman.

Declaring the result of the selection process, the Financial Services Institutions Bureau (FSIB) in a statement said the bureau interviewed 13 candidates on August 30 and September 4.

“Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Vinay M Tonse for the position of MD in SBI,” it said.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.
FSIB is headed by Bhanu Pratap Sharma, former secretary in the Department of Personnel and Training (DoPT).

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI’s ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.