India’s largest lender, the State Bank of India(SBI) has joined the ranks of a host of other headless public sector undertakings (PSU) after its chairman Pratip Chaudhuri retired on the 30th of September without a successor being notified. Arundhati Bhattacharya was set to take over as the new head, but her appointment has been delayed. This is in some sense keeping alive the unholy tradition at SBI. The appointment of chairmen was delayed on the last 2 occasions as well, when A K Purwar and O P Bhatt retired. On both occasions an interim charge was given to others till the permanent chairmen took control. A former senior banker with SBI who spoke to Business Standard on conditions of anonymity said it is the finance ministry’s ad hoc decision to seek a relaxation to the eligibility norms for selection, that’s led to this delay.
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