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SBI chief Arundhati Bhattacharya gets 1-year extension

1 October, 2016 11:48 AM
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Government has given one-year extension to SBI chief Arundhati Bhattacharya amid the lender's consolidation with its associate banks. This will provide continuity at a time when the process of consolidation is going on.

NEW DELHI: Government has given one-year extension to SBI chief Arundhati Bhattacharya amid the lender's consolidation with its associate banks.

According to top government sources, the incumbent SBI chairman has been given one-year extension. This will provide continuity at a time when the process of consolidation is going on.

Earlier this year, the Cabinet gave its nod for merger of State Bank of India (SBI), its associate lenders and Bharatiya Mahila Bank (BMB) that would make the state-owned lender a global-sized bank.

SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it.

Source: timesofindia.indiatimes.com

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