State Bank of India is set for a major churn at the top after the government appointed two new managing directors in the bank, opening up the possibility of more down-the-line promotions. But the new government took time to promote B Sriram and VG Kannan as MDs which has delayed the entire process, an SBI official said. The largest bank has promoted at least half a dozen chief general managers and circle heads as deputy managing directors (DMDs) a couple of months ago, but they can't assume their new roles in the absence of vacancies at the top.

For instance, Arijit Basu, Ashwini Mehra and Sunil Srivastava - all CGMs and circle heads - have been promoted as DMDs, but are still continuing with old duties.

Read the Economic Times news report here.