Rama Mohan Rao Amara takes charge as new MD & CEO of SBI Card

His appointment is with effect from January 30, 2021 for a period of two years subject to all the requisite approvals including that of the shareholders.

New Delhi: SBI Cards and Payment Services (SBI Card) on Saturday said Rama Mohan Rao Amara has taken charge as the new MD & CEO of the company.

His appointment is with effect from January 30, 2021 for a period of two years subject to all the requisite approvals including that of the shareholders.

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Amara takes over from Ashwini Kumar Tewari, SBI Card said in a release.

Amara is a veteran banker, with a successful career spanning over 29 years at State Bank of India (SBI). Prior to taking charge at SBI Card, he was the Chief General Manager, SBI Bhopal Circle, where he managed two key states, Madhya Pradesh and Chhattisgarh.

“The Indian economy is slowly but surely coming out of the grip of the pandemic. With a renewed focus towards cashless and digital payments, the country is firmly on the path to becoming a digital economy.

“Moreover, the Indian credit card market continues to present significant growth potential due to its favourable demographic changes and extremely low credit card penetration rate,” Amara said.

Amara has expertise in field of credit, risk and international banking.