1. SBI Chairman, Arundhati Bhattacharya bids Goodbye! Says will be around but not in banking

SBI Chairman, Arundhati Bhattacharya bids Goodbye! Says will be around but not in banking

As the Chairman of India’s largest bank -- State Bank of India -- Arundhati Bhattacharya’s term ends today, we bring you the parting words of the leader as she bids goodbye to her career at SBI.

By: | Published: October 6, 2017 1:44 PM
The outgoing chairman of State Bank of India, Arundhati Bhattacharya. (Image: Reuters)

As the Chairman of India’s largest bank — State Bank of India — Arundhati Bhattacharya’s term ends today, we bring you the parting words of the leader as she bids goodbye to her career at SBI. On being asked if she would continue in banking after retirement, the outgoing SBI chief Arundhati Bhattacharya said; “I don’t think that I will continue in area of banking but obviously I’m not going to hang up my boots.” Arundhati Bhattacharya said in today’s time 60 years is too early for retirement. “I’m past 60 I forget,” she said laughing, while adding, “… that doesn’t matter, there is so much of stuff to do. If you have the energy and willingness to do I think we can. So definitely, I will be around and I will be active, may not be directly in banking but yes I will be definitely doing some things.”

Expressing gratitude!

Arundhati Bhattacharya, who was listed as 25th most powerful women in the world by Forbes in 2016, completed her four-year-long term as the chairman of State Bank of India today. As the 24th chairman of India’s largest lender, SBI, Arundhati Bhattacharya said it’s been a matter of great pride to led an organisation like this one, it’s an opportunity that comes very rarely. The changes we have made in the way bank works and I’m sure this will show up in the future numbers, Arundhati Bhattacharya said in a press conference. The fact that government is very confident enough to give it to me during this time that also I have to thank them, she said. And for reposed trust in enabling me to complete the merger that is also something I’m grateful for, she added.

Quoteworthy

“I really hope going forward you will see the results of very hard work we had done in last few years that you’ll appreciate a number of changes we have brought within which probably are not reflected but will definitely come in near future,” Arundhati Bhattacharya said.

On unfinished agendas

Regarding the unfinished agenda, she said “there is never a position where you can say my agenda is finished and go. Because what happens is, you start with an agenda and as you go on, you keep adding to it, so there will have to be unfinished pieces of business. For instance, we were supposed to deliver on the digital front, something that is really different and that was supposed to be in sometime in July. Now it got delayed a little because the project scope has widened as we have gone along, we have wanted to this, we wanted to that, so the scope has widened. So this is something that will get delivered to you in next month.”

New chairman

Earlier on Wednesday, Rajnish Kumar was appointed as the new Chairman of the State Bank of India for three years. Rajnish Kumar, 59, is the senior most of the managing directors at State Bank of India, will become the 25th chairman of the country’s largest lender, succeeding Arundhati Bhattacharya.

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    Sarat Pattanayak
    Oct 11, 2017 at 9:12 am
    A double-barrelled blast of rising NPA and mediocre leadership has left the Bank gasping for breath. Throughout her tenure, she was dangerously clueless about how to pull the Bank from the precipice. Her crippling cautiousness hampered her. She was intellectually inert, incapable of understanding and analysing the problems. Her hang-in-there strategy festered the problems. She was putty in the hands of the unions. Her manipulative and scheming personnel policies corroded staff morale and upset the senior managers. Her career-long cushy postings had ill-prepared her for the biggest Bank’s Chairmanship. Her vaguely functioning brain was the root cause of the Bank’s stunted growth. Against this dismal performance, the Bank has bid her a relieved farewell. But she is an appalling chancer. By giving interviews to various newspapers she thinks she would be able to hoodwink the powers that be for the second time in a row. If she succeeds, it would be calamitous.
    Reply
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      Sarat Pattanayak
      Oct 11, 2017 at 6:07 am
      ‘She will be around but not in banking’. Which other sector will suffer by its association with her? By now, all sectors must have been alerted about this dud looking for an opening. But nobody will touch her even with a bargepole. She will be avoided like a bio-hazard.
      Reply
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        Sarat Pattanayak
        Oct 11, 2017 at 5:56 am
        Vijay Mallya’s escape from the country was clearly facilitated by the then SBI Chairman’s dithering. Despite specific legal advice from none other than the then Attorney General, the dewy-eyed Chairman didn’t file the FIR in time. By not doing so, she, as the leader of the lenders’ consortium, was definitely complicit in Mallya’s escape. That was a scandal that reeked to the heavens then. Instead of being frogmarched out of office, she was given one year extension in service. Clearly, her appointment was more due to her considerable expertise in backdoor lobbying than any discernible merit. Among the pantheon of the Bank’s chairmen, she is undoubtedly a third-rate dunce, nothing to write home about. In a way, her greatest contribution to the Bank and the country is her own unlamented retirement.
        Reply
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          Sarat Pattanayak
          Oct 11, 2017 at 5:52 am
          Under her watch, NPA ballooned sky high. Quite how such a career-long scatterbrain became chairman of SBI is a source of genuine bafflement. Mediocrity dripped from her in everything she did. Until she is in jail where she manifestly belongs for letting Mallya escape, people will not forgive this government. Her lacklustre and inglorious tenure will go down in SBI history as the darkest period. Yet she is fishing for a sinecure job when she should be avoided like pestilence.
          Reply
          1. Rupak Bandyopadhyay
            Oct 6, 2017 at 9:42 pm
            Appreciate the new set up " WEALTH MANAGEMENT HUB'' at large branches is an unique measure for high value individual depositors offering various facilities.HATS OFF
            Reply
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              V K Agarwal
              Oct 6, 2017 at 9:00 pm
              Telecom mess due to govt. pressures and changing favours and policies has created a lot of confusion. A big expected default is not clear and its impact has now to be dealt by the new SBI Chairman.Banking will bear the blow of present mess by giving further loans or may have to meet a heavy amount of NPAs provision for losses to industry. Govt. should share this loss as it has gained a lot from high spectrum . Considering further the introduction of 5G 6G in near future, policy should be revised to be conducive to industry growth in times to come.
              Reply
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                Vedpathak R C
                Oct 6, 2017 at 6:43 pm
                No one should get any kind of extension after age fixed in tthe industry for retirement
                Reply
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