FSIB Recommends Ravi Ranjan as Next SBI Managing Director

The Financial Services Institutions Bureau (FSIB), the government’s headhunter for directors of state-owned banks and financial institutions, has recommended Ravi Ranjan for the post of Managing Director (MD) of State Bank of India (SBI).

Ranjan, who is currently serving as Deputy Managing Director, will succeed Vinay M Tonse, whose term as SBI MD ends on November 30, 2025, officials said.

According to an FSIB statement, the Bureau conducted interviews on September 11, 2025, where nine shortlisted candidates were evaluated for the position.

The appointment of Ravi Ranjan is expected to further strengthen the leadership at SBI, India’s largest public sector bank, as it navigates challenges in digital banking, credit growth, and global expansion.

The final appointment will be made after approval from the Appointments Committee of the Cabinet (ACC), based on the FSIB recommendation.