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Arundhati Bhattacharya likely to get extension: -

The government is considering giving a one-year extension to State Bank of India chief Arundhati Bhattacharya amid the lender’s consolidation with its associate banks. In this regard, the government is looking at the proposal of granting extension to the current chairperson, whose three-year term comes to an end this month, sources added. The government has also received views of the Banks Board Bureau on the extension issue and an order in this regard is expected in the next few days, according to sources. Earlier this year, the Cabinet gave its nod for the merger of State Bank of India (SBI) and its associate lenders and Bharatiya Mahila Bank (BMB) that would make the state-owned lender a global-sized bank. SBI has five associate lenders — State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad.

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