Former SBI Chairman P G Kakodkar passes away following cardiac arrest

Kakodkar was instrumental in the bank achieving several milestones.

State Bank of India's logo is seen in this photo

Former chairman of State Bank of India (SBI) P G Kakodkar died in Panaji on Sunday following a cardiac arrest.

The family sources stated that 83-year-old former banker passed away after suffering a cardiac arrest.

He was also on the Managing Committee of Goa Chamber of Commerce and Industries (GCCI).

Kakodkar joined SBI as a probationary assistant in the year 1957 and retired as chairman of the bank on March 31, 1997.

During his tenure as chairman of the SBI, he was instrumental in the bank achieving several milestones.

He is credited with the entry of the bank into the global capital markets by its GDR issue.

He also served as chairman of Goa Public Service Commission from 1997 to 1999.

Condoling his death, GCCI President Manoj Caculo said the chamber mourns the sad demise of Kakodkar.

"In his death, Goa has lost an illustrious son. He retired as the chairman of SBI, the largest public sector bank in the country, a rare distinction of which all Goans should be proud of," he said.

"Post retirement, he also served as chairman of GPSC (Goa Public Service Commission). He had also shared his banking experience with Goans by heading chambers Banking and Finance Committee for two terms. We will always cherish his memory," Caculo said.