6 in race to replace SBI MD Pradeep Kumar, interview on Sept 16

Six candidates have been invited to appear for the interview on September 16 for the post of a managing director of State Bank of India (SBI).

The interviews are taking place in New Delhi to fill up the vacancy which will be created on superannuation of P Pradeep Kumar, who looks after corporate banking group as managing director and group executive, on October 31.

Earlier four candidates had been called for the interview whose names include Praveen Kumar Gupta (MD, SBI Caps), Varsha Purandare (DMD & chief credit officer), Dinesh Khara (MD, SBI Mutual Fund) and Sunil Srivastava (DMD corporate services and new business).

However, the names of Shashi Kumar (DMD, inspection & management audit) and MS Shastri (DMD and chief risk officer), who have been elevated to the post of DMD nearly a couple of months ago, were added later on, sources said.

Gupta is the senior most, but Khara who is 1961 born, is the youngest among the six candidates. Whoever is selected for the post of MD this time, will have a fair chance of being considered among the eligible candidates for the post of chairman of the bank when the incumbent Arundhati Bhattacharya retires next October.

As per the SBI norms, the candidate appearing for the interview of MD must have completed three years as either DMD or chief general manager (CGM) and keeping it in view, both the candidates fulfill the eligibility criteria.

Apart from Pradeep Kumar, the other three serving MDs at SBI include B Sriram (national banking group), VG Kannan (associates and subsidiaries) and Rajnish Kumar (compliance and risk). Kannan's retirement is due next July.