State Bank of India's new chairperson Arundhati Bhattacharya was given the green signal on Monday by the government. She is the first woman who has become the chief of the nation's biggest financial institution.
Being the 24th chairperson of the bank, Bhattacharya, 57 replaced Pratip Chaudhuri who turned in his papers and retired on September 30th. She has a big challenge to reduce the bad loans which is currently a bit more than 5% of the overall loan book. Another responsibility for her is to find the right associate bank for the merger with SBI.
In 1997, she joined SBI from a Chief General Manager to a Probationary and was heading the Bangalore Region. She was then promoted to CGM and her responsibility was handling new businesses. Later on, she was then promoted as the deputy MD of the SBI Capital Markets. She also handled the New York office of the bank where she had to look into the correspondent relations, external audits and checking the performance of the branch.