NEW DELHI: State Bank of India chairman Arundhati Bhattacharya has been given a one-year extension by the government. Her three year-term as the chief of the bank was to end on October 6.
The move is aimed at providing continuity of leadership at a time when the bank is gearing up to merge its associate banks and Bharatiya Mahila Bank with itself.
“Continuity of leadership is important and in other cases too, the performing chiefs of banks will be considered for extensions,” a senior government official, who did not wish to be identified told HT.
HT first reported on June 1 about Bhattacharya’s extension. Sources said there was “no race” for the top job.
“For the first time probably there was practically no race for the top post and it was almost certain she would continue as chief,” a senior executive of the bank said. Bhattacharya’s name was also considered for RBI governor. Bhattacharya, the first woman chief of the bank, has been ranked 25th in Forbes’ list of ‘The World’s 100 Most Powerful Women.’