The Financial Services Institutions Bureau (FSIB) has selected Ravi Ranjan for the position of Managing Director (MD) at the State Bank of India (SBI). Currently serving as Deputy Managing Director, Ranjan is set to succeed Vinay M. Tonse, whose term ends on November 30, 2025.
The FSIB conducted interviews with nine candidates for the MD role on September 11, 2025. After a thorough evaluation of their credentials and experience, Ravi Ranjan emerged as the preferred candidate.
The appointment is now subject to approval by the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi.
Ravi Ranjan’s elevation to MD at India’s largest public sector bank marks a significant step in his banking career and reflects the FSIB’s commitment to placing experienced leadership at the helm of key financial institutions.
Ravi Ranjan has over 33 years of experience with SBI, starting as a Probationary Officer in 1991. As a Deputy Managing Director, he manages SBI’s Global Markets division, overseeing an investment portfolio worth over $196 billion. He has also led the Corporate Accounts Group and served as Chief General Manager of SBI’s Chennai Circle. Ranjan has international experience from his role at SBI Hong Kong and holds an MBA from MDI Gurugram and an MSc in Botany from Patna University.
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