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SBI chairman gets one-year extension

Arundhati Bhattacharya gets one-year extension amid consolidation with associate banks

SBI chairman Arundhati Bhattacharya at inaugural session of INFOCOM 2015 in Kolkata on Thursday, December 3, 2015 PTI

The government on Saturday granted one year extension to Arundhati Bhattacharya as chairman of State Bank of India (SBI), a first in the history of the country’s biggest lender. At a time when SBI’s consolidation with its associate banks is underway, continuity in leadership is likely to help in smooth transition. “Her current three-year term was to end on October 6, 2016. Now, she will serve till October 6, 2017,” a senior SBI executive said. The speculation over extension of Bhattacharya’s term was making rounds for several months. Senior SBI ...