SBI Appoints Ravi Ranjan as Managing Director
The largest public sector lender in India, State Bank of India, announced the appointment of Ravi Ranjan as its managing director effective December 15, 2025. This decision was officially conveyed by the Department of Financial Services under the Ministry of Finance, as specified in a government notification issued on the same date.
Ranjan, who held the position of deputy managing director at SBI before his promotion, took over the role on the same day.
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According to the official notification issued under the authority of the State Bank of India Act, 1955, he will serve in this capacity until his retirement on September 30, 2028, or until new instructions are provided, whichever comes first.
After being appointed as managing director, Ranjan will have the responsibility of supervising important areas such as risk management, compliance, and the Stressed Assets Resolution Group, as stated in the regulatory disclosure.
Prior to assuming the role of managing director, Ranjan held the position of deputy managing director for Global Markets for over a year and previously led the Corporate Accounts Group.
Additionally, he has occupied various high-level leadership positions within the organization, such as chief general manager of SBI's Chennai Circle, where he managed operations in Tamil Nadu and Puducherry.
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His prior roles encompassed the positions of president and chief operating officer at SBI Capital Markets in Mumbai, as well as overseeing the retail network as general manager in Bengaluru.
Ranjan has additionally held assignments abroad in Hong Kong, where he specialized in debt syndications, and in Los Angeles, California. Ranjan, a seasoned professional in the banking industry, commenced his career as a probationary officer at the State Bank of India in 1991. He possesses more than thirty years of expertise in various roles within the banking and financial services sector.
According to reports, the largest financial institution in the country, SBI, has initiated a targeted initiative aimed at assisting customers in transitioning from branch visits to more cost-effective digital banking platforms. At the unveiling of the updated Yono app, the chairman of the bank, C S Setty, announced the commencement of a new program where designated personnel or supervisors assist customers in transitioning to the digital platform, offering a high level of convenience for them.
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Currently, around 9.60 crore out of State Bank of India's more than 50 crore customers are utilizing the Yono platform, as mentioned by Setty. The bank's objective is to expand this number to 20 crore customers. According to Setty, the updated application enables SBI to acquire a customer at a significantly reduced cost. Furthermore, with the implementation of the new version, the bank aims for 90 percent of the daily 70,000 account openings to be processed through the Yono platform. According to Setty, all current Yono users will receive updates in a gradual manner, ultimately transitioning to the new version seamlessly within a designated time frame.