Nand Kishore has been appointed as the new managing director and chief executive officer of SBI Mutual Fund, replacing Shamsher Singh, who is returning to the State Bank of India.

Kishore has over 34 years of experience in various banking sectors, including branch banking, international operations, treasury, and investment banking.

SBI Mutual Fund is recognized as India's largest fund house and manages assets totaling Rs 11 lakh crore as of the end of October. The firm is a joint venture between the State Bank of India and Amundi, Europe's largest asset manager.

Kishore joined SBI in 1990 as a probationary officer and has steadily risen through the ranks to his current leadership position.