Process begins for finding new State Bank chief

The Finance Ministry has initiated the process to find the new chief of the country’s largest lender State Bank of India (SBI) as Arundhati Bhattacharya’s extended term comes to an end on October 6.

“The Department of Financial Services has communicated to the Banks Board Bureau of the emerging vacancies at the top level of PSU banks, which will have to be filled during the course of the year,” a senior ministry official said.

This also includes chairman and one managing director of the SBI, which alone has a market share of more than 20%.
Besides chairman, SBI has four managing directors looking after different departments.

The post assumes significance as the bank has recently merged five associates and the Bharatiya Mahila Bank.