Vinod Rai joins as SBI Director

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.

State Bank Of India (SBI) on Thursday said Vinod Rai, Secretary (Financial Sector), Department of Economic Affairs, Ministry of Finance, has been appointed as Director on the board of the bank.

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"Government of India nominated 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.