Rana AK Singh takes charge as MD at SBI

Rana Ashutosh Kumar Singh has taken charge as managing director in charge of the risk compliance department and the stressed assets resolution group at State Bank of India after the government approved his appointment last week.

Gajendra Singh Rana, former chief general manager of the Mumbai circle has taken over from Singh as the deputy managing director in charge of retail and real estate, people familiar with the changes said. SBI did not reply to an email seeking comment till Monday press time.

"Singh took over on Thursday just after the government order as is the norm. For now, he has taken over the departments handled by former MD Alok Choudhary. Though it is the discretion of the new chairman whether he wants to reshuffle the MD posts after he takes charge," said a person familiar with the changes.

Last Wednesday, the Appointments Committee of the Cabinet (ACC) approved the appointment of CS Setty as the chairman of SBI for a three-year term after incumbent Dinesh Khara retires on August 28.