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SBI chairman likely to get extension

Extension would mean she would not a contender to succeed RBI governor Raghuram Rajan

Policy Pulse
Publish Date: Jun 27 2016 10:12AM | Updated Date: Jun 27 2016 10:12AM

SBI chairman likely to get extension

Centre may extend Arundhati Bhattacharya's term as chairman of State Bank of India by one year, a report in ‘The Economic Times’ has said. 

 
As per the report, finance ministry wants extension as the bank absorbs five associate units and Bhartiya Mahila Bank while cleaning up its books of bad loans, officials told the paper.
 
However, extension would mean she would not a contender to succeed Reserve Bank of India governor Raghuram Rajan, who completes his term in September. 
 
Bhattacharya's term of three years at the bank, also ends in September .
 
Few days back, the cabinet cleared the plan that will see SBI increase in size. Process may be completed by March 2017. 
 
Bhattacharya has said the process will be helpfulfor all concerned. 
 
"While the network of SBI would stand to increase, its reach would multiply. One can expect efficiencies to be created from rationalization of branches, common treasury pooling and proper deployment of a large skilled resource base," she was quoted to have said. 
 
The other three contenders for the top post are managing directors B Sriram, PK Gupta and Rajnish Kumar.