Our governance structure

Dr Pushpendra Rai has more than four decades of professional experience, as a national and international civil servant/diplomat working in diverse areas like rural and economic development; energy management; financial planning and banking; innovation and intellectual property rights; treaty negotiations; and international cooperation.

As a member of the Indian Administrative Service, apart from district and state administration, Dr Rai formulated strategies for the import of crude oil and petroleum products, participating in several international trade negotiations; managed the Oil Economy Budget; and prepared market related pricing strategies. In another assignment, he was the National Project Director for two UNDP modernization projects; Secretary- General of the Quality Council of India; Member-Secretary of the National IP Expert; Member-Secretary, Foreign Investment Promotion Council, and Executive Director of the National Renewal Fund. He was also the country’s lead negotiator at the WTO and WIPO.

He spent almost two decades with the United Nations (WIPO) based at Geneva (Director at headquarters) and Singapore (Asia-Pacific Head), handling diverse responsibilities in an Organization with 193 Member countries. He negotiated and managed the historic Development Agenda process; developed partnerships with reputable national and regional institutions; and led negotiations with Member States, intergovernmental organizations and institutions of excellence for concluding cooperation programs, strategic plans and framework agreements. Dr Rai represented WIPO at scores of senior-level international, regional and national meetings.

Dr Rai is/has been on the board/management committees of ICI (India), NID, APO (Tokyo), MDS, ATRIP, Secretary, Committee for Development and IP (UN), CIPP, Koan Advisory; SBI (chairing various board committees); and advises the ASEAN Secretariat and Indonesia on IP issues.

Dr. Rai has a master’s degree in Economics from Lucknow; another master’s from Harvard University; and a PhD from IIT, Delhi. He has lectured globally in more than 40 countries to academia, chambers of commerce, policy makers, officials, judges, students, legislators and diplomats.

Shri Rajeev Krishnan joined the State Bank of India (SBI) as a Probationary Officer in 1977 and has worked across different verticals in SBI, gathering 44 years of experience in various spheres of the banking sector. He holds a Bachelor’s degree in Science. During his long and illustrious career with SBI, he has handled many challenging assignments which include being the Chief General Manager (Stressed Asset Management) at Corporate Centre, Mumbai; President & COO at SBICAP and General Manager Network-I Kolkata. He was also posted in Bahrain for an overseas assignment.

Shri Virendra Bansal assumed the role of Managing Director & Chief Executive Officer of SBI Capital Markets Limited (SBICAPS) in February 2024. Before this appointment, he served as the Country Head for the US Operations of SBI, overseeing offices in New York, Chicago, Los Angeles, Sao Paulo, and Washington DC.

Previously, Shri Bansal held positions as the Chief Executive Officer of SBI New York Branch and Vice Chairman of SBI (California), a US Retail Banking subsidiary. He also contributed to SBI UK operations as Head of Trade and managed retail branches catering to high net worth customers.

With a banking career spanning over 33 years, Mr. Bansal has accumulated extensive experience within State Bank of India in India and abroad. Beginning as a directly recruited Probationary Officer in 1990, he has undertaken significant roles across Credit, International Banking, and Retail Banking.

Among his notable roles was Deputy General Manager & Relationship Manager at the Corporate Accounts Group of State Bank of India in Mumbai, where he oversaw relationships with major corporates, amounting to an aggregate credit exposure of approximately USD 8.00 billion.

Mr. Bansal holds a Bachelor’s degree in Mechanical Engineering and is certified in Anti Money Laundering/Know Your Customer (AML/KYC) by the Indian Institute of Bankers.

Shri Abhay Gupte is a distinguished advisory, auditing, and consulting professional who recently concluded a successful tenure as Senior Partner at Deloitte, India, culminating over four decades of dedicated service and leadership within the organization. He has garnered extensive expertise in risk management, regulatory compliance, and SOX across diverse industries. He has served India’s largest organizations and financial conglomerates including regulators. With a track record of leadership and strategic insight, he brings invaluable expertise to boardroom discussions and decision-making processes. Shri Abhay Gupte is a member of the Institute of Chartered Accountants of India (ICAI). He is also a Certified Information Systems Auditor.

Dr Pushpendra Rai has more than four decades of professional experience, as a national and international civil servant/diplomat working in diverse areas like rural and economic development; energy management; financial planning and banking; innovation and intellectual property rights; treaty negotiations; and international cooperation.

As a member of the Indian Administrative Service, apart from district and state administration, Dr Rai formulated strategies for the import of crude oil and petroleum products, participating in several international trade negotiations; managed the Oil Economy Budget; and prepared market related pricing strategies. In another assignment, he was the National Project Director for two UNDP modernization projects; Secretary- General of the Quality Council of India; Member-Secretary of the National IP Expert; Member-Secretary, Foreign Investment Promotion Council, and Executive Director of the National Renewal Fund. He was also the country’s lead negotiator at the WTO and WIPO.

He spent almost two decades with the United Nations (WIPO) based at Geneva (Director at headquarters) and Singapore (Asia-Pacific Head), handling diverse responsibilities in an Organization with 193 Member countries. He negotiated and managed the historic Development Agenda process; developed partnerships with reputable national and regional institutions; and led negotiations with Member States, intergovernmental organizations and institutions of excellence for concluding cooperation programs, strategic plans and framework agreements. Dr Rai represented WIPO at scores of senior-level international, regional and national meetings.

Dr Rai is/has been on the board/management committees of ICI (India), NID, APO (Tokyo), MDS, ATRIP, Secretary, Committee for Development and IP (UN), CIPP, Koan Advisory; SBI (chairing various board committees); and advises the ASEAN Secretariat and Indonesia on IP issues.

Dr. Rai has a master’s degree in Economics from Lucknow; another master’s from Harvard University; and a PhD from IIT, Delhi. He has lectured globally in more than 40 countries to academia, chambers of commerce, policy makers, officials, judges, students, legislators and diplomats.

Shri Rajeev Krishnan joined the State Bank of India (SBI) as a Probationary Officer in 1977 and has worked across different verticals in SBI, gathering 44 years of experience in various spheres of the banking sector. He holds a Bachelor’s degree in Science. During his long and illustrious career with SBI, he has handled many challenging assignments which include being the Chief General Manager (Stressed Asset Management) at Corporate Centre, Mumbai; President & COO at SBICAP and General Manager Network-I Kolkata. He was also posted in Bahrain for an overseas assignment.

Smt. Shilpa Naval Kumar has rich experience over 30 years in the Finance and Treasury Management. She was designated as Managing Director & CEO of ICICI Securities. She was on the Board of ICICI Securities, ICICI Securities Prime Dealership, ICICI Home Finance, Clearing Corporation of India and National Investment & Infrastructure Fund.

She held a position of Chairperson on the Board of Fixed Income Money Market and Derivatives Association of India (FIMMDA) and served on the Board of various regulatory committees viz., SEBI Secondary Markets Advisory Committee, RBI Technical Advisory Committee, RBI Mohanty Committee on Monetary Policy. She has also been part of various industry associations like FICCI Capital Markets Committee and served on the Advisory Committees of National Stock Exchange, Bombay Stock Exchange and National Securities Depository Ltd.

Presently, Shilpa Naval Kumar holds the position of Partner at Omidyar Network India and Directorships on the Board of The Ugar Sugar Works Ltd, Sewa Grih Rin Limited and Development Management Foundation.

Smt. Shilpa Naval Kumar has done her MBA from IIM Kolkata

Dr Pushpendra Rai has more than four decades of professional experience, as a national and international civil servant/diplomat working in diverse areas like rural and economic development; energy management; financial planning and banking; innovation and intellectual property rights; treaty negotiations; and international cooperation.

As a member of the Indian Administrative Service, apart from district and state administration, Dr Rai formulated strategies for the import of crude oil and petroleum products, participating in several international trade negotiations; managed the Oil Economy Budget; and prepared market related pricing strategies. In another assignment, he was the National Project Director for two UNDP modernization projects; Secretary- General of the Quality Council of India; Member-Secretary of the National IP Expert; Member-Secretary, Foreign Investment Promotion Council, and Executive Director of the National Renewal Fund. He was also the country’s lead negotiator at the WTO and WIPO.

He spent almost two decades with the United Nations (WIPO) based at Geneva (Director at headquarters) and Singapore (Asia-Pacific Head), handling diverse responsibilities in an Organization with 193 Member countries. He negotiated and managed the historic Development Agenda process; developed partnerships with reputable national and regional institutions; and led negotiations with Member States, intergovernmental organizations and institutions of excellence for concluding cooperation programs, strategic plans and framework agreements. Dr Rai represented WIPO at scores of senior-level international, regional and national meetings.

Dr Rai is/has been on the board/management committees of ICI (India), NID, APO (Tokyo), MDS, ATRIP, Secretary, Committee for Development and IP (UN), CIPP, Koan Advisory; SBI (chairing various board committees); and advises the ASEAN Secretariat and Indonesia on IP issues.

Dr. Rai has a master’s degree in Economics from Lucknow; another master’s from Harvard University; and a PhD from IIT, Delhi. He has lectured globally in more than 40 countries to academia, chambers of commerce, policy makers, officials, judges, students, legislators and diplomats.

Shri Rajeev Krishnan joined the State Bank of India (SBI) as a Probationary Officer in 1977 and has worked across different verticals in SBI, gathering 44 years of experience in various spheres of the banking sector. He holds a Bachelor’s degree in Science. During his long and illustrious career with SBI, he has handled many challenging assignments which include being the Chief General Manager (Stressed Asset Management) at Corporate Centre, Mumbai; President & COO at SBICAP and General Manager Network-I Kolkata. He was also posted in Bahrain for an overseas assignment.

Smt. Shilpa Naval Kumar has rich experience over 30 years in the Finance and Treasury Management. She was designated as Managing Director & CEO of ICICI Securities. She was on the Board of ICICI Securities, ICICI Securities Prime Dealership, ICICI Home Finance, Clearing Corporation of India and National Investment & Infrastructure Fund.

She held a position of Chairperson on the Board of Fixed Income Money Market and Derivatives Association of India (FIMMDA) and served on the Board of various regulatory committees viz., SEBI Secondary Markets Advisory Committee, RBI Technical Advisory Committee, RBI Mohanty Committee on Monetary Policy. She has also been part of various industry associations like FICCI Capital Markets Committee and served on the Advisory Committees of National Stock Exchange, Bombay Stock Exchange and National Securities Depository Ltd.

Presently, Shilpa Naval Kumar holds the position of Partner at Omidyar Network India and Directorships on the Board of The Ugar Sugar Works Ltd, Sewa Grih Rin Limited and Development Management Foundation.

Smt. Shilpa Naval Kumar has done her MBA from IIM Kolkata

Shri Virendra Bansal assumed the role of Managing Director & Chief Executive Officer of SBI Capital Markets Limited (SBICAPS) in February 2024. Before this appointment, he served as the Country Head for the US Operations of SBI, overseeing offices in New York, Chicago, Los Angeles, Sao Paulo, and Washington DC.

Previously, Shri Bansal held positions as the Chief Executive Officer of SBI New York Branch and Vice Chairman of SBI (California), a US Retail Banking subsidiary. He also contributed to SBI UK operations as Head of Trade and managed retail branches catering to high net worth customers.

With a banking career spanning over 33 years, Mr. Bansal has accumulated extensive experience within State Bank of India in India and abroad. Beginning as a directly recruited Probationary Officer in 1990, he has undertaken significant roles across Credit, International Banking, and Retail Banking.

Among his notable roles was Deputy General Manager & Relationship Manager at the Corporate Accounts Group of State Bank of India in Mumbai, where he oversaw relationships with major corporates, amounting to an aggregate credit exposure of approximately USD 8.00 billion.

Mr. Bansal holds a Bachelor’s degree in Mechanical Engineering and is certified in Anti Money Laundering/Know Your Customer (AML/KYC) by the Indian Institute of Bankers.

Shri Virendra Bansal assumed the role of Managing Director & Chief Executive Officer of SBI Capital Markets Limited (SBICAPS) in February 2024. Before this appointment, he served as the Country Head for the US Operations of SBI, overseeing offices in New York, Chicago, Los Angeles, Sao Paulo, and Washington DC.

Previously, Shri Bansal held positions as the Chief Executive Officer of SBI New York Branch and Vice Chairman of SBI (California), a US Retail Banking subsidiary. He also contributed to SBI UK operations as Head of Trade and managed retail branches catering to high net worth customers.

With a banking career spanning over 33 years, Mr. Bansal has accumulated extensive experience within State Bank of India in India and abroad. Beginning as a directly recruited Probationary Officer in 1990, he has undertaken significant roles across Credit, International Banking, and Retail Banking.

Among his notable roles was Deputy General Manager & Relationship Manager at the Corporate Accounts Group of State Bank of India in Mumbai, where he oversaw relationships with major corporates, amounting to an aggregate credit exposure of approximately USD 8.00 billion.

Mr. Bansal holds a Bachelor’s degree in Mechanical Engineering and is certified in Anti Money Laundering/Know Your Customer (AML/KYC) by the Indian Institute of Bankers.

Shri. Shesh Verma has over 31 years of banking experience, having started his career as a Probationary Officer with State Bank of India in 1991. He has held various positions in India, across multiple functions viz., Retail Banking, Commercial Banking, Branch Banking, High Value Credit, Import Export Finance, Forex Operations, Retail Branch Head, Commercial Branch Head, Controllers of Commercial Banking Branches etc.,

Prior to assuming charge as President & Chief Operating Officer of SBICAPS with effect from 23rd May 2023, his roles included General Manager at Pune with 4 corporate branches catering 200 corporate and non-corporate customers of entire Madya Pradesh and Maharashtra (ex-Mumbai), from May 2021 to May 2023.

He was DGM in Credit Management, SBI, Corporate Centre from July 2020 to April 2021, DGM and Branch Head, CCG Branch, Nehru Place, New Delhi from June 2019 to June 2020. He was RM at Overseas Branch, New Delhi from June 2018 to May 2019 with credit portfolio of 10 large corporate customers, including 4 large PSUs.

The most challenging assignment of his career was maintaining top ranking in Business growth as well as compliance amongst all 7 zones of Patna Circle, when he was the Dy GM and Zonal Head at Dhanbad, Jharkhand from Sept 2016 to May 2018 where he headed 4 regions having 180 branches including 3 SME Branches, 2 RASMECCS, 6 districts headquarter branches and 175 retails branches spread over 6 districts of State.

He was AGM & Branch Head for the Overseas Branch Moradabad (U.P.) with a team of 50 Officers and staff, engaged in providing entire range of Banking services to large exporters of metal and non-metal who supply handicrafts to entire world.

During the period 1991 to 2010, he had held assignments spanning various facets of Relationship Manager – Corporate customers at Overseas Branch, Kanpur, Team Leader – Credit Processing at LHO Lucknow, Chief Manager and Branch Head, Credit Specialist, Division Manager, Credit Officer, Human Resources Manager, Branch Manager and Assistant Manager – General Banking in Kanpur, and Lucknow, Uttar Pradesh.

He is B. Com with master’s degree in economics, CAIIB Part I & II and holds Post Graduate Diploma in Financial Advising, AMFI, MSME, General Insurance, AML & KYC.

Shri Rajan Gupta is the Executive Vice President &Group Head – Project Advisory & Structured
Finance (PA&SF) Group at SBI Capital Markets Limited (SBICAPS).

Having started his professional career in investment and corporate banking as a Management
Trainee at SBICAPS in 1995, Rajan was the Group Head – Infrastructure Relationships Group at SBICAPS
in 2006. He then gained international banking experience at Standard Chartered Bank (2006 – 2020),
leading regional teams in India, the African continent, and the Middle East. Prior to re-joining
SBICAPS, Rajan was the Managing Director & Global Head, Strategic Execution, in the bank’s global
banking team.

Over the past 27 years, Rajan’s leadership experience spans Client Relationships, Project &
Infrastructure Finance, Advisory, Syndications, Credit Risk, Private Equity, Trading & Market Making,
Business Development, Digitization of Operations, General Management, and Strategy Execution.
Rajan has a Postgraduate degree in Management Studies from Narsee Monjee Institute of
Management Studies and is a Marshall Goldsmith Certified Stakeholder Centered Leadership Trainer.

Shri Arnab Choudhury is a Postgraduate in economics from the Delhi School of Economics. He started his professional career in State Bank of India as a Probationary Officer in 1996. Shri Choudhury has worked in the SBI treasury dealing room, both at FX and Derivatives desk and was a part of the team that drafted the derivatives trading policy for the bank. After a brief stint with RIL (ADAG) group treasury, he joined Standard Chartered Bank, Bahrain in their Financial Markets team. Prior to joining SBICAPS in August 2021, he was the country head of Financial Markets, Standard Chartered Bank in Bahrain. Shri Choudhury brings in expertise in both domestic and international financial markets in all asset classes and with clientele which includes Global Corporates, Sovereign Wealth Funds and Large Family Offices.

Mr. Kaushik has over 23 years of experience. He has done his Masters in Chemistry
and is also a Law and Management Graduate. He started his career with SBI in 2000
and has worked in various roles in Credit, Treasury, Retail, International and
Investment Banking with SBI, SBICAPS and as OSD, Department of Financial Services,
Govt. of India. He has rich experience in Indian equity capital markets encompassing
IPOs, Follow on offerings, Rights Issues, Preferential Allotment, Private Equity
syndication and M&A Advisory.
He has led and handled many marquee transactions. He also headed the project
team which set up Bharatiya Mahila Bank and was also involved in the mergers of
Associate Banks and BMB with SBI. He also headed the team which handled the
recapitalization of Public Sector Banks to the extent of Rs. 2,70,000 crores. He was
part of the core team which initiated and advised on mergers among Public Sector
Banks. He also advised GoI in framing the EASE reforms for PSBs.