The State Bank of India on Saturday announced the appointment of Kameshwar Rao Kodavanti, who has been with the bank since 1991, as its chief financial officer (CFO).

Kodavanti replaces Charanjit Surinder Singh Attra, who has resigned from the post.

“Kameshwar Rao Kodavanti has been appointed as CFO of State Bank of India with effect from July 1,”the country’s largest lender said in a filing to the stock exchanges.

He has been working with State Bank of India since August 1991 and has experience in fields of banking, forex, finance, and accounting.

He is a qualified chartered accountant.

Transaction hub

The State Bank of India on Saturday launched 34 transaction banking hubs to better serve its small business clients in the country.

The hubs have been launched on the occasion of the largest lender’s foundation day at 21 top district centres across the country, a statement said.

The initiative was launched by the bank’s chairman Dinesh Khara, and 2,000 current accounts were onboarded under revamped current account variants, it added. During the pre-launch, the bank mobilised over Rs 1,000 crore deposits at these centres, it said.

Bank of Baroda MD

Debadatta Chand on Saturday assumed charge as managing director and chief executive officer of Bank of Baroda (BoB).

He has taken over charge from Sanjiv Chadha, whose tenure ended on June 30, BoB said in a statement.

Before he was appointed as MD, Chand was serving as the executive director at the bank since March 2021.

In his role as executive director, he was overseeing corporate and institutional credit, corporate and institutional banking, treasury and global markets, mid-corporate business, and trade & foreign exchange.