Hardayal Prasad Appointed as Managing Director and CEO of SBI Card

SBI Card has announced the appointment of Hardayal Prasad as the company`s new Managing Director and Chief Executive Officer, effective February 1^st, 2018. Prasad takes over from Mr. Vijay Jasuja who retired on January 31^st, 2018, following a successful tenure with the company.

Prasad joined State Bank of India, India`s largest and oldest bank, as a Probationary Officer in 1983. He has rich experience in many areas of banking and has served in several geographical locations spread across different Circles and abroad. He has held multiple leadership positions at State Bank of India including Chief General Manager, LHO-Hyderabad; General Manager, LHO - Mumbai; Deputy General Manager (B&O), Bareilly; Deputy General Manager (O&C), Lucknow and Vice President (Trade & Systems), Los Angeles Agency USA among others.

Commenting on the appointment, Mr. Dinesh Khara, MD (R,IT&S), State Bank of India said, “We are pleased to appoint Hardayal Prasad as the MD & CEO of SBI Card. With his strong track record and extensive experience, we believe he is the right person to lead the rapidly growing credit cards business. We are keen to expand our market share in the credit card business and are confident that Hardayal will be able to build on the success that Mr. Vijay Jasuja helped the company to achieve.”

Hardayal Prasad, MD & CEO, SBI Card said, “SBI Card has seen robust growth over the last few years and has become the fastest growing credit card issuer in the country. A wide portfolio of innovative products catering to diverse consumer segments, commitment to quality and a strong ethos of trust and transparency has resonated with our customers making us a trusted and preferred brand for millions of consumers across the country. This has catapulted SBI Card to number two position in the industry.

As India progresses rapidly towards a digital economy, our business is at an exciting stage.  We believe there is a tremendous opportunity for further growth and innovation at this time.  Going forward, constant innovation to develop best in class payments solutions that meet evolving consumer needs, coupled with enhanced customer experience at every touch point, will fuel the next phase of our growth. With customer centricity at our core and continued support of our cardholders, we look forward to strengthening our footprint towards a market leadership position. As a leading card issuer with extensive reach across the country, we believe we can contribute significantly to India`s digital revolution. We are committed to partnering in the endeavour to create a cashless society.”