SBI cards and Payment Services has named Ashwini Kumar Tewari as its new Managing Director and chief executive officer. He was nominated by parent State Bank of India for the position and his appointment will come into effect from August 1, 2020. The new appointment will be valid for two years.
Tewari’s appointment is followed by the resignation of present MD&CEO, Hardayal Prasad who decided to quit from the directorship of the company owing to his voluntary retirement from the State Bank of India, the company said.
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The Board of Directors of the Company, at its meeting gave approval to these changes. “Tewari’s appointment is subject to all the requisite approvals including approval of the shareholders at the ensuing Annual General Meeting,” the company said.
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