Mumbai : The Government of India has appointed Sanjay Lohiya, Secretary of the Department of Financial Services (DFS) under the Ministry of Finance, as a Director on the Central Board of Directors of State Bank of India (SBI) with immediate effect. The appointment marks a significant leadership change at India’s largest public-sector lender and comes as part of the government’s ongoing oversight of the country’s banking sector.
According to a notification issued by the Department of Financial Services on June 11, 2026, Lohiya has been nominated under Section 19(e) of the State Bank of India Act, 1955. He succeeds Nagaraju Maddirala, who previously represented the government on SBI’s board.
Key Appointment at India’s Largest Bank
The nomination places Sanjay Lohiya on the governing board of State Bank of India, a financial institution that plays a crucial role in India’s banking system, public finance initiatives, and economic development programs.
As a board member, Lohiya will participate in strategic decision-making, corporate governance matters, policy oversight, and discussions related to the bank’s long-term growth and financial performance.
The government notification stated that his appointment takes effect immediately and will remain valid until further orders.
Who Is Sanjay Lohiya?
Sanjay Lohiya is a senior Indian Administrative Service (IAS) officer from the 1994 Assam-Meghalaya cadre. He has built an extensive career in public administration and policy-making, serving in several key positions across the Government of India and the Government of Assam.
He assumed charge as Secretary, Department of Financial Services, on June 1, 2026, after serving as Special Secretary in the same department.
Before moving to the DFS, Lohiya worked as Additional Secretary in the Ministry of Mines, where he was involved in policy formulation and administrative oversight in the mining sector.
Distinguished Administrative Career
Throughout his career, Lohiya has held several high-profile government positions, including:
- Principal Secretary to the Chief Minister of Assam
- Joint Secretary, Ministry of Agriculture
- Director, Prime Minister’s Office (PMO)
- Additional Secretary, Ministry of Mines
- Special Secretary, Department of Financial Services
- Secretary, Department of Financial Services
His broad experience across governance, economic administration, and public policy is expected to bring valuable insights to SBI’s board.
Educational Background
Lohiya is an alumnus of St. Stephen’s College, a constituent college of the University of Delhi, one of India’s most prestigious higher education institutions. His academic and administrative background has contributed to a career spanning more than three decades in public service.
Significance of the Appointment
The appointment comes at a time when India’s banking sector is focusing on digital transformation, financial inclusion, credit expansion, and strengthening risk management frameworks. As Secretary of the Department of Financial Services, Lohiya is already closely involved in policymaking related to banks, insurance companies, and financial institutions.
His presence on SBI’s board is expected to strengthen coordination between the government and the country’s largest lender on strategic financial and banking initiatives.
What Happens Next?
Following the government’s notification, State Bank of India is expected to make the necessary regulatory disclosures in compliance with applicable SEBI requirements. Additional details regarding committee memberships and board responsibilities may be announced in future filings.
With his appointment now effective, Sanjay Lohiya joins SBI’s Central Board at a crucial period for India’s banking industry, bringing extensive administrative experience and deep knowledge of the country’s financial sector.
Key Highlights
- Sanjay Lohiya appointed Director on SBI’s Central Board.
- Appointment made by the Government of India under Section 19(e) of the SBI Act, 1955.
- Replaces Nagaraju Maddirala on the board.
- Currently serving as Secretary, Department of Financial Services.
- 1994-batch IAS officer of the Assam-Meghalaya cadre.
- Appointment effective immediately and until further orders.
- SBI expected to make regulatory disclosures under SEBI norms.
