Indian Government Appoints Vinay M. Tonse as Managing Director of State Bank of India Until November 30, 2025

In a noteworthy announcement on Monday, the Government of India appointed Vinay M. Tonse as the Managing Director of the State Bank of India (SBI), filling the vacancy left in June when Swaminathan Janakiraman was appointed Deputy Governor of the Reserve Bank.

The decision follows the recommendation by the Financial Services Institutions Bureau (FSIB) in September, endorsing Tonse for the position he currently holds as the Deputy MD of the state-owned bank. The final decision was made by the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi.

In his role as Deputy MD, Tonse has been overseeing the Corporate Accounts Group (CAG), managing relationships with large corporate clients. His background indicates a robust understanding of critical aspects of the bank's operations and business functions.

Vinay M. Tonse began his journey with the State Bank of India in 1988 as a Probationary Officer. With over 30 years of experience, he has served in various locations within India and internationally, showcasing his expertise.

Throughout his extensive career, Tonse has successfully led significant assignments and projects for the State Bank of India, demonstrating versatile leadership in commercial banking, including corporate credit, treasury, retail, and international banking.

The Managing Director position at the State Bank of India holds immense prestige due to the institution's size and scale. Each MD shoulders responsibilities that surpass those of most banks in India, underscoring the significance of Tonse's appointment.