SBI Chairman Arundhati Bhattacharya gets 1 Year Extension

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Finance Minister Arun Jaitley has today announced that the Central Government has extened Arundhati Bhattacharya’s term as the Chairman of State Bank of India (SBI) for one more year i.e., till October 2017. Arundhati, the Chairperson of the biggest bank was due to retire on 6th October, though she had reached retirement age in March this year, but she has secured this one year's extension to oversee the merger of six smaller commercial banks into the country's largest lender.

Note : The government last month gave its nod for the merger of six banks -- State Bank of Bikaner and Jaipur, State bank of Travancore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Maharashtra and Bharatiya Mahila Bank -- into the State Bank of India.

The government is also planning to fix SBI chairman's tenure at five years, against three at present.

About State Bank of India (SBI)

• Nationalized on : 2nd June 1956
• Headquarters : Mumbai
• Slogan : Slogan    The Banker to Every Indian
• Chairman :
• Arundhati Bhattacharya
• Managing Directors :
• B Sriram
• VG Kannan
• Rajnish Kumar
• PK Gupta

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