Meet the new Managing Director of SBI - Arijit Basu

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India's largest lender State Bank of India (SBI) today appointed Arijit Basu as it's new Managing Director (MD). A graduate in Economics and a Master of Arts in History, Basu started his career with SBI almost 35 years ago as a probationary officer.

Prior to this appointment, Basu was heading the corporate accounts group as the deputy managing director and handling stressed assets. He returned to SBI two months ago after serving as the Managing Director and Chief Executive Officer at SBI Life Insurance for four years.

Basu will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman. He will be in the position till 31st October 2020. 

Important Note : After Basu's appointment, the SBI will have four managing directors. As per the SBI Act, the bank can have four managing directors.

Current Managing Directors of SBI :

• Arijit Basu
• Sri Ram
• P. K. Gupta
• Dinesh Kumar Khara

Chairman : Rajnish Kumar

Two days ago, SBI's Managing Director B Sriram was temporarily appointed as the Chief of IDBI Bank for a period of three months.

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