SBI Capital Markets Limited (SBICAPS), the wholly owned subsidiary and investment banking arm of the State Bank of India (SBI), has appointed Virendra Bansal as the new Managing Director & Chief Executive Officer. 

Bansal has succeeded Rajay Kumar Sinha, who has been appointed as the Whole-Time Member (Finance and Investment) of the Insurance Regulatory and Development Authority of India (IRDAI), for three years in January 2024.

Before taking the new role at SBICAPS, Bansal was the Country Head for the US Operations of SBI. In a career spanning over three decades with SBI, Bansal has handled several important assignments in diverse areas of Credit, International Banking in the US and the UK, and Retail Banking. He brings in global expertise and experience that will further help strengthen SBICAPS’ investment banking business in India and overseas.

Commenting on his new assignment, Shri Bansal said, "Together with the team I aim to strengthen SBICAPS' position both in India and overseas. We will continue our focus on driving innovation, fostering strategic partnerships, and delivering exceptional value with best-in-class investment banking solutions to our clients. I look forward to this opportunity to contribute to the legacy of this renowned institution and take it to greater heights".