The State Bank of India (SBI), headquartered in Mumbai, has promoted eight chief general managers (CGMs) to the position of deputy managing directors (DMDs) as part of its annual reshuffle. This transition comes as several current DMDs are set to retire, with some retirements anticipated as early as June 2023. Among the new DMDs, Debasish Mishra, previously the CGM of SBI's New Delhi circle, will succeed Nand Kishore as CEO of SBI Mutual Fund. Dipak Kumar De, the former CGM of the Lucknow circle, will take over the digital banking division from Chander Shekhar Sharma, who is retiring in July. The promotions and transfers at SBI typically occur in the first quarter of the fiscal year, with general managers being promoted to CGM roles and CGMs moving up to DMD positions. Other DMDs expected to retire later this year include Kshitij Mohan and Ashok Kumar Sharma. The process for promoting general managers to CGMs is also underway and is expected to conclude by mid-May 2023.