FSIB Recommends Rana Ashutosh Kumar Singh for SBI MD, Asheesh Pandey for Indian Bank MD

New Delhi: The headhunter bureau for selecting directors of public sector banks (PSBs) and financial institutions, Financial Services Institutions Bureau (FSIB), on Wednesday, has recommended two names for the top posts in the two state-owned banks — one for the State Bank of India (SBI) and the other for Chennai-based Indian Bank. Keeping in view of their performance parameters, the bureau has recommended Rana Ashutosh Kumar Singh for the post of managing director (MD) of SBI, while Asheesh Pandey for the post of MD of Indian Bank.


“Keeping in view of their performance in the interface, overall experience and the extant parameters, the bureau recommends Rana Ashutosh Kumar Singh for the position of MD in SBI and Asheesh Pandey for the position of MD in Indian Bank,” the FSIB said in a statement, adding that the final decision on the FSIB’s recommendation would be taken by the Appointments committee of the Cabinet headed by Prime Minister Narendra Modi.

As SBI is the country’s largest lender, it has four managing directors and one chairman. Singh is currently serving as deputy managing director at SBI. For Indian Bank, Pandey has been recommended for the MD post in the bank. Currently, Pandey is serving as an executive director of Bank of Maharashtra, who will replace SL Jain on his superannuation.

Declaring the result of the selection process, FSIB also said that the bureau interviewed 16 candidates on April 23 and 24 and final recommendations were taken after the interview. The FSIB is headed by former Department of Personnel and Training secretary Bhanu Pratap Sharma. Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI’s former executive director Deepak Singhal, and Shailendra Bhandari, ex-MD of erstwhile ING Vysya Bank.