In a first, SBI MD to helm IDBI Bank

In a first, a banker will hold two important positions in two different banks.

B Sriram, managing director, State Bank of India (SBI) will hold the unique position of shouldering an additional responsibility of IDBI Bank as managing director and chief executive officer for a period of three months. Sriram will continue in his role as the managing director of SBI in charge of corporate assets.

He is expected to take up the dual responsibility from June 22, the day when the current managing director and chief executive officer (CEO) of IDBI Bank will take charge as deputy governor of Reserve Bank of India (RBI).

Sriram, an experienced banker with an impeccable track record, was also interviewed for the deputy governor's post, but he lost out to Jain, who will fill up the post that was lying vacant for the past 9 months.

The short posting was handed over to Sriram as he is due to retire in September. The government is in the process of interviewing executive directors for a dozen of PSU post that would fall vacant this fiscal year. As many as 12 executive directors and 14 deputy managing of State Bank of India (SBI) would be appearing for an interview for the MD post at PSU banks, which will be held at the end of this month by Banks Board Bureau.

Sriram, who spent over three decades at SBI, is also its most senior executive, and was earlier managing director of State Bank of Bikaner and Jaipur, a subsidiary of SBI, which was merged with the parent bank.