Arundhati Bhattacharya has been appointed SBI’s chairperson for a three-year term following the approval of the appointments committee of the cabinet (ACC) headed by the prime minister
GN Bureau | October 7, 2013
The country’s largest lender State Bank of India (SBI) got its first woman chairperson Arundhati Bhattacharya who assumed charge on Monday. Bhattacharya took over the post from Pratip Chaudhuri after he retired on September 30.
The government announced the appointment of 57-year-old Bhattacharya following the approval of the appointments committee of the cabinet (ACC) headed by prime minister Manmohan Singh. Bhattacharya, who was the youngest managing director and also the chief financial officer (CFO) of the bank, will serve as the chairman for a three-year period, according to a statement released by SBI.
The statement further said that during her 36-year log career, Bhattacharya has served across various areas like retail, treasury and corporate finance at numerous posts including deputy managing director and corporate development officer, chief general manager of the Bangalore circle and new businesses and also headed SBI Caps.
Bhattacharya’s appointment comes at a crucial juncture when the bank’s asset quality has been experiencing a consistent decline, poor loan recovery, sluggish credit demand and falling profit figures. In addition, the bank has also entered into a battle with its officers’ federation which has been posing difficulties for the bank especially in the last one year.
Currently, over one-fifth of the nation’s banking assets are under the control of SBI and its five subsidiaries. With over 15,000 branches and a plan to merge with all its subsidiaries, SBI is eyeing to become a globally competitive bank.
A three-term Rajya Sabha member, Sanjay Raut is the Shiv Sena spokesperson and its voice in parliament. He is also the executive editor of Marathi newspaper Samana, started by Shiv Sena founder Bal Thackeray. Raut spoke with Geetanjali Minhas on his party’s seat-sharing agreement
Ashish Shelar, 47, was the president of the Mumbai city unit of the BJP, before he became the minister of school education, sports and youth welfare in the Maharashta government this year. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with
The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc
Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t
Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.
Prakash Ambedkar, grandson of Dr BR Ambedkar and popularly known as Balasaheb Ambedkar, heads the Vanchit Bahujan Aghadi (VBA). The three-time MP founded this new political party last year with a vision of Ambedkarism, secularism, socialism and progressivism. The VBA, registered this year before the Lo