Headquarters of State Bank of India (SBI) at Nariman Point in Mumbai (Photo: Vijay Sartape/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

In a landmark move, the government has opened the door for private-sector professionals to apply for top leadership roles in public-sector banks (PSBs), including the prestigious Managing Director (MD) position at the State Bank of India (SBI) — a first in Indian banking history.

The reform marks a major shift in how leadership positions such as MDs and Chief Executive Officers (CEOs) are selected across public financial institutions. The move is part of a broader effort to promote transparency, competition, and merit-based hiring at the highest levels of the banking system.

According to a communication reviewed by NDTV

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