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Industry News
Abhay Kumar Singh Takes Over As CEO of SBI Cards & Payment Services
Posted On : 2010-01-12 10:58:49( TIMEZONE : IST )
Mumbai, January 12, 2010: SBI Card announced here, today, that Mr. Abhay Kumar Singh has taken over as the new Chief Executive Officer of SBI Cards & Payment Services Private Limited (SBICPSL). SBICPSL runs credit card sales, marketing and promotions for SBI Card. SBI Card is a joint venture between State Bank of India and GE Capital and operates through two companies -- SBI Cards & Payment Services Private Limited and GE Capital Business Process Management Services Limited.
Mr. Abhay Kumar Singh will be responsible for new customer acquisition, launching new credit card products and overseeing the entire sales and marketing operations of SBI Card. Mr. Singh succeeds Mr. Diwakar Gupta, who has moved into a new role at State Bank of India.
"I am excited to lead one of the leading credit card operations in the country today. The SBI Card team, under the stewardship of Mr. Diwakar Gupta, has steered the company into a strong market position over the last couple of years. My aim will be to build on that and firmly establish SBI Card's market leadership," said Mr. Abhay Singh, Chief Executive Officer, SBICPSL.
"Abhay brings three-decades of financial services experience to SBI Card. With him leading the team at SBI Card, we expect SBI Card to emerge as a leader not only in products and promotions but also in customer service and delivery. 2010 would see a deepening of the eleven-year-old relationship between GE Capital and State Bank of India," said Mr. Anish Shah, President & CEO, GE Capital India.
SBI Card won several Indian and Asian awards in 2009 including the most trusted brand in credit card category in the Reader's Digest Asia Trusted Brands 2009 Survey, a consumer choice award from CNBC Awaaz and ‘Asia's Best Mature Captive Services Delivery' award from the Shared Services Outsourcing Network (SSON).
Mr. Abhay Kumar Singh had joined State Bank of India as a Probationary Officer in 1976. Mr. Singh's last assignment at State Bank of India was as General Manager (Foreign Offices) where he was responsible for maintaining and expanding bank's network of 136 foreign offices. In his 33-year career at State Bank of India, Mr. Singh has held several leadership positions in the bank's consumer and commercial finance businesses in India and abroad.
