State Bank of India appoints four directors to the central board

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State Bank of India (SBI) announced the appointment of four directors to its Central Board. The newly appointed directors are Ketan Shivaji Vikamse, Mrigank Madhukar Paranjpe, Rajesh Kumar Dubey, and Dharmendra Singh Shekhawat.

An Overview of the News 

• These appointments are effective from June 26, 2023, and will be for a tenure of three years, ending on June 25, 2026.

• Ketan Shivaji Vikamse and Mrigank Madhukar Paranjpe have been reappointed as directors on the central board of SBI. He was originally appointed in June 2020 under Section 19(c) of the SBI Act 1955.

• Rajesh Kumar Dubey and Dharmendra Singh Shekhawat have been appointed as directors on the Central Board in place of B Venugopal and Ganesh Natarajan, whose term ends on June 25, 2023. He was selected under section 19(c) of the SBI Act, 1955.

Ketan Shivji Vikamse

• Wickhamse is a Senior Partner at KKC & Associates LLP, a Chartered Accountant firm established in 1936.

• He is an Independent Director registered with the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs (MCA).

Mrigank Madhukar Paranjpe

• He currently holds the position of Managing Director and Chief Executive Officer (CEO) at NCDEX E-Markets Limited.

• He has previously served as the MD & CEO of Multi Commodity Exchange of India Limited.

Rajesh Kumar Dubey

• He is currently responsible for the role of Executive Director (Personnel) in Life Insurance Corporation of India (LIC).

• He started his career in 1988 as a Direct Recruit Officer at the Life Insurance Corporation of India.

Dharmendra Singh Shekhawat

• He is the main partner of M/s. D.S. Shekhawat & Associates, a Chartered Accountant Firm since September 2002. He also serves as the chairman of TH.

• Jaswant Singh Memorial Trust. He has previously been an Independent Director on the Board of Indian Oil Corporation Limited (IOCL) and has been the Chairman of the Audit Committee of the Board.

About State Bank of India (SBI)

• It is headed by Dinesh Kumar Khara and is headquartered in Mumbai, Maharashtra.

• SBI was established in the year 1955 and is recognized as the "Banker for Every Indian".