Decision on SBI chief may come from Modi, Jaitley

NEW DELHI: The decision on an extension for State Bank of India chairman Arundhati Bhattacharya, whose three-year term ends in September, is likely to be taken by

NEW DELHI: The decision on an extension for State Bank of India chairman Arundhati Bhattacharya, whose three-year term ends in September, is likely to be taken by finance minister Arun Jaitley.

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Sources said that the decision may even involve Prime Minister Narendra Modi.

“This decision will not be a normal one and it will not be the way appointments happen for other banks... the highest authorities are involved in the decision making process and it is expected only at the end of the next month,” the source said. The final decision is expected only after September 15.

The bank board bureau (BBB) will have a limited role in deciding Bhattacharya’s extension.

Sources added that at a time when associate banks of SBI and Bharatiya Mahila Bank are in the process of merging with the mother bank, a change of guard could dampen the exercise and slow down the process.