SBI shares drop 2% on Rama Mohan Rao Amara’s appointment as new MD

Shares of State Bank of India (SBI) drop 2% following the announcement of the appointment of Rama Mohan Rao Amara as the bank's Managing Director (MD). His appointment is effective for a period of three years, starting from the date he assumes the role. Previously, Amara served as the Deputy Managing Director and Chief Risk Officer at SBI.