State Bank of India chairman Arundhati Bhattacharya, who was due to retire on 6 October, has received a year’s extension, said a SBI official.
The Finance Ministry wants continuity in leadership as SBI absorbs five associate units and Bhartiya Mahila Bank while cleaning up its books of bad loans, they said, adding that the government may fix SBI chairman’s tenure at five years, up from three now.
In 2015, while selecting private sector candidates for five large public sector banks, the government had offered a fixed, three-year tenure subject to the normal superannuation age of 60 years.
IndianBureaucracy.com wishes Arundhati Bhattacharya the very best.