Arundhati Bhattacharya Appointed as First Woman Managing Director (MD) of State Bank of India (SBI).
The Centre has appointed Arundhati Bhattacharya as a Managing Director (MD) of country’s largest commercial bank – State Bank of India (SBI). She is the first woman Managing Director (MD) of SBI and is also tipped to be the Chairperson of the bank when incumbent Chairman, Pratip Chaudhuri, retires in end-September. Prior to this appointment, Bhattacharya was Managing Director and Chief Executive of SBI Capital Markets, the merchant banking arm of SBI.
Currently, SBI has four Managing Directors. Bhattacharya has replaced Diwakar Gupta, who was Chief Financial Officer (CFO) and Managing Director (MD) of the bank and retired in end-July.
A search and selection panel comprising Rajiv Takru, Financial Services Secretary, Anand Sinha, Deputy Governor of Reserve Bank of India, and a professor from Indian Institute of Management, Ahmedabad, among others, had in June interviewed candidates for the SBI Managing Director post.
The search panel had recommended Bhattacharya’s name, which was approved by the Finance Minister.