Vinod Rai joins as new SBI Director

New Delhi, Nov 2: State Bank Of India (SBI) today said Mr Vinod Rai, Secretary (Financial Sector), Department of Economic Affairs, Ministry of Finance, has been appointed as Director on the board of the bank.

''Government of India nominated Mr Rai as Director on the SBI Board with effect from October 31,'' SBI said in a statement.

SBI's net interest margin improved by 19 basis points on a y-o-y basis for the first half to 3.32 per cent, but were lower than 3.37 per cent in the June 2006 quarter.

However, net interest income increased just 8 per cent in the second quarter.

UNI