SBI Card
SBI Card

SBI Cards and Payment Services (SBI Card) on Monday said it has appointed former MD and CEO Ashwini Kumar Tewari as a nominee director on its board with immediate effect.

The board of directors of the company at its meeting held on Monday (April 5, 2021) approved the appointment of Ashwini Kumar Tewari as nominee director of the company with immediate effect, SBI Card said in a regulatory filing.

Tewari is currently the managing director of the parent company State Bank of India (SBI).

Besides, the board also approved the appointment of Ernst & Young LLP (EY) as internal auditor of the company for FY2021-22, it said.

SBI Card said Tewari is not related to any of the directors of the company nor debarred from holding the office of the director.

A career banker, Tewari started with SBI in the year 1991 as a probationary officer and was the MD and CEO of SBI Card before being appointed back to SBI in January this year.

Earlier, he was the Country Head of the US operations of SBI based in New York. Prior to that, he was the Regional Head and General Manager, East Asia, for SBI based out of Hong Kong.

He is an electrical engineer by degree, and is also a certified associate of the Indian Institute of Bankers (CAIIB), Certified Financial Planner (CFP) and has done a certificate course in management from XLRI.

He has also served on the Board of International Institute of Bankers, New York, and the Board of University of Washington Global Bankers Programme.

To date, SBI Card has a total of nine board of directors, including SBI Chairman Dinesh Khara and the MD and CEO of SBI Card Rama Mohan Rao Amara, as per the company website.

With Tewari's appointment, the count of the board of SBI Card stands increased to 10 members.

SBI Card stock closed at Rs 942.60 apiece on BSE, down 3.32 per cent from the previous close.

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