New Delhi:

The government has approved the appointment of Rama Mohan Rao Amara for the position of managing director of the State Bank of India (SBI).

Mr Amara, Deputy Managing Director, State Bank of India, has been appointed as managing director in the bank for a period of three years, with effect from the date of assumption of charge of the post, or until further orders, whichever is earlier, the lender said in a regulatory filing on Wednesday, citing a government notification.

He will fill the vacancy created due to the elevation of CS Setty as chairman of the country’s largest lender.

The SBI board is headed by a Chairman assisted by four managing directors. With the selection of Amara, SBI will get its fourth MD.

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