The government announced SBI Chairman Arundhati Bhattacharya’s term extended to another 1 year

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The government announced SBI Chairman Arundhati Bhattacharya’s term extended to another 1 year. As per previous decision her term will be ending on 6th October 2016 but  now the government issued a notification extending her term &she will be continue as the chairman of SBI up to October 2017. Arundhati Bhattacharya was appointed on October 7, 2013, for 3 years. She is the first women chairman of SBI in its banking history. As per the top resources of central government the reason behind her extended term is to make easy the merging process of SBI’s 5 subsidiaries & Bharatiya Mahila Bank with SBI. 
Arundhati Bhattacharya said the merging process is at final stage & she hope it will be complete within March 2017. From this merging SBI will become the world’s 45th largest bank.

SBI’s subsidiaries: State Banks of Bikaner & Jaipur (SBBI), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM).

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