Crisil on Thursday said Arundhati Bhattacharya, the past chairman of State Bank of India, has submitted her resignation as independent director of the company effective April 15.
In her resignation, Bhattacharya has indicated that the reason for her resignation is her decision to accept a full time role as chairperson and CEO in another company, the filing said.
"Bhattacharya, an Independent Director of the company, has submitted her resignation as a director of the company, which will take effect on April 15, 2020," Crisil Ltd said in a filing to BSE.
She has confirmed that there is no other material reason, other than the reason stated in her resignation, it added.
"I wish to advise that I have decided to accept a full time executive role as chairperson and CEO for the India operations of Salesforce, USA. Accordingly, I need to discontinue my existing non-executive assignments," Bhattacharya said in her resignation letter to the board of directors.
I sincerely regret that I will have to step down as non-executive Independent Director from the board as well as from the committees of Crisil board, from April 16, 2020," the letter said.
Bhattacharya was the first woman to lead the more than two centuries-old State Bank of India, which controls over a quarter of the nation's banking system.
She retired in 2017 after a one-year extension, spending four decades in various roles and then moved onto the international payment platform Swift India as its chairman, a position she still occupies.