State Bank of India gets its first woman chief

The 57-year-old Bhattacharya, the front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.

Arundhati Bhattacharya was on Monday appointed as chairperson of State Bank of India (SBI), becoming the first woman to head India’s largest bank since its inception.

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The 57-year-old Bhattacharya, the front-runner for the post on account of years of service left, was managing director and CFO of the bank prior to her elevation. She would serve a term of three years.

She assumed charge as the chairperson of the bank on Monday, succeeding Pratip Chaudhuri who retired on September 30, a statement said.

Bhattacharya, who joined in 1977, has spent 36 years in the bank.

Besides heading SBI Capital Markets, she has also served as the managing director, corporate development officer, chief general manager of the Bangalore circle.

In September, a selection panel held interviews of all four managing directors of the bank — Hemant Contractor, A Krishna Kumar, S Vishvanathan besides Bhattacharya for the top post.