Who has been appointed as the new MD & CEO of SBI Cards & Payment Services (SBI Card)?

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SBI Cards & Payment Services (SBI Card), one of the leading credit card issuers in India, has announced the appointment of Mr. Rama Mohan Rao Amara as its new Managing Director and Chief Executive Officer. Mr. Amara will take over from Mr. Ashwini Kumar Tewari, who has been elevated as the Managing Director of State Bank of India.

Mr. Amara has over three decades of experience in the banking sector, having worked in various roles across retail banking, corporate banking, trade finance, credit, international banking and general management. He joined SBI as a probationary officer in 1991 and has held several key positions in the bank, including Chief General Manager of SBI Bhopal Circle and Chief General Manager of Personal Banking at SBI Corporate Centre, Mumbai. He was also deputed to SBI's UK operations as Regional Head (North) from 2016 to 2019.

Mr. Amara holds a Master's degree in Agriculture from Andhra Pradesh Agricultural University and a Master's degree in Business Administration from The University of Manchester, UK. He is also a Certified Associate of the Indian Institute of Bankers (CAIIB).

In his new role, Mr. Amara will be responsible for leading the growth and development of SBI Card, which has a customer base of over 11 million and a market share of over 18% in terms of card spends. He will also oversee the strategic direction and vision of the company, which aims to offer innovative and differentiated products and services to its customers.

Mr. Amara said, "I am honoured and excited to join SBI Card as its MD & CEO. SBI Card is a well-established brand in the Indian credit card industry, with a strong legacy of customer-centricity, innovation and value creation. I look forward to working with the talented team at SBI Card and our esteemed partners to further enhance our offerings and deliver superior value to our customers and stakeholders."

Mr. Dinesh Kumar Khara, Chairman of SBI and Chairman of SBI Card, said, "We are delighted to welcome Mr. Rama Mohan Rao Amara as the new MD & CEO of SBI Card. He brings with him a wealth of experience and expertise in the banking sector, which will be invaluable for the growth and success of SBI Card. We are confident that under his leadership, SBI Card will continue to maintain its leadership position in the Indian credit card market and achieve new heights of excellence."