Vinay Tonse new MD at SBI

Mumbai: In a major reshuffle at the country’s largest lender, State Bank of India (SBI), Vinay Tonse has taken over charge as Managing Director (MD) at the bank. He had already been named for the post by the government to replace the incumbent Swaminathan, who was appointed as Deputy Governor at RBI some time back, sources familiar with the development told Bizz Buzz.

Prior to it, Tonse was working as DMD (CAG). In his new role, Tonse will be heading the retail banking and operations (RB&O) vertical.

Another MD at SBI, Alok Chaudhary, who had been looking after retail banking and operations (RB&O) so far, has taken over the charge of risk compliance and stressed asset Resolution group. Yet another MD of the bank, Ashwin Tewari, who was looking after Risk, Compliance & SARG until now, has been given the charge of Corporates & Subsidiaries.

As far as the portfolio of SBI MD, SC Shetty was concerned, he will continue to head the international banking group (IBG) as usual.

Apart from it, there has been reshuffle in the post of deputy managing directors’ posts too at the bank.