Praveen Gupta has been appointed as the Managing Director & Chief Executive Officer of SBI Capital Markets (the Merchant Banking arm of State Bank of India) effective, June 22, 2015. Prior to this, Gupta was the Deputy Managing Director and Chief Financial Officer (DMD & CFO) of the State Bank of India.

Gupta replaces Rajnish Kumar, who has been elevated as Managing Director - Compliance and Risk, State Bank of India. Gupta has been with the State Bank of India for over three decades, having joined the Bank in 1982. He has held various important assignments in the Bank in India and abroad. A commerce graduate and a Company Secretary, Gupta has held several key assignments across various business verticals, including Chief General Manager (Global Markets), Chief General Manager of Bhubaneswar Circle of the Bank, General Manager - Network 1 at the State Bank of India, Local Head Office at Guwahati, Deputy Chief Executive Officer of the SBI Macquarie Infrastructure Fund, Chief Executive Officer of the Bahrain Offshore Banking Unit and the Regional Head for the Bank's operations Middle East and North Africa regions.

Shares of the bank gained Rs 2.45, or 0.92%, to trade at  Rs 268.30.  The total volume of shares traded  was  1,153,384 at the BSE (1.41 p.m., Tuesday).