SBI Card appointed Hardayal Prasad as its MD and CEO. He takes over from Vijay Jasuja, who retired on 31 January. State Bank of India offers credit cards through its subsidiary SBI Cards & Payments Services. SBI owns 74% stake in the unit and the rest is held by Carlyle Group. The company has around 50 lakh cardholders. Prasad had joined the bank as a probationary officer in 1983. He has rich experience in many areas of banking and has served in several geographical locations spread across different circles and abroad. He has held positions such as CCGM, GM, DGM and vice president (Trade & Systems) in Los Angeles Agency USA.