It’s official, SBI gets its first woman chief

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.

Comments

 

Other News

Growing Up as a Multilinguist

Being and Becoming Multilingual: Some Narratives Edited by Rajesh Sachdeva and Rama Kant Agnihotri

Mumbai civil body refutes allegations of scam in tenement scheme

The BrihanMumbai municipal corporation (BMC) has rejected the Congress accusations of financial irregularities worth Rs 8,000 crore—9,000 croe in awarding contracts for getting project-affected people (PAP) tenements on private land.    BMC has said that it implements vital p

Sedition law: Can it have a place in democracy?

Does the concept of sedition have a place in modern democracies? This question became more relevant when the apex court recently put the country`s colonial-era sedition law on abeyance stating that there is a “requirement to balance… security interests and integrity of the State… and th

Not just another Manto anthology

The Collected Stories of Saadat Hasan Manto: Volume 1: Bombay and Poona Translated by Nasreen Rehman Aleph Book Company, 548 pages, Rs 999 There are writers, there are writers’ writers, and then there are readers’ writers. Saadat Hasan Mant

These tribal women may be illiterate but are successful entrepreneurs

Meet Promila Krishna, 39, Lalita Nayak, 40, Parbati Gadba, 42, Sanadei Dhuruwa, 39, and Nabita Barika, 41, of Kundra block in Odisha’s Koraput district. Except for Promila who is a matriculate, others haven’t attended school beyond the elementary level. However, while introducing themselves to

Women in workforce: Despite policy support, why it is declining

Michelle Obama once said, “No country can ever truly flourish if it stifles the potential of its women and deprives itself of the contributions of half of its citizens.” That should be so obvious, but it is not, and countries keep depriving themselves of the contributions of half of their popul

Visionary Talk: Arvind Sawant, Member of Parliament with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter