Mumbai, Aug. 3 -- The board has also inducted Kannan as an additional director in the capacity of a non-executive independent director, effective 1 August 2026. His appointment as an independent director is for a five-year term, from 1 August 2026 to 31 July 2031, subject to shareholders' approval. He takes over as chairperson from Sandeep Tandon.

Kannan is a seasoned banking professional with over 40 years of leadership experience in the Banking, Financial Services and Insurance (BFSI) sector. He Joined the State Bank of India (SBI) as a Probationary Officer in 1978 and progressed to the board position of managing director, overseeing SBI's domestic subsidiaries and associate banks until July 2016. Prior to joining the SBI Board, he ser...