No takers for SBI top job in Gujarat post bullion scam

Jyotsna Bhatnagar

Ahmedabad, May 22: IT’S a classic Catch-22 situation for the State Bank of India (SBI) in Gujarat. The bank is believed to have incurred a loss of over Rs 80 crore in the recent bullion scam, and is finding it tough to get a suitable replacement for its top job in the state.

The chief general manager (CGM) heading the bank’s Gujarat operations, Mr MM Mehta, was shifted to Mumbai as CGM of non-performing assets a couple of days ago, allegedly, for what is perceived to be his mishandling of the bullion crisis. In his place, the bank announced the appointment of Mr Sushilkumar Mukherjee, presently CGM of NPAs in Mumbai, as the new CGM of Gujarat.

Highly reliable bank sources, however, say that though orders have been served for both Mr Mehta’s and Mr Mukherjee’s transfers, neither of them has moved so far. “Gujarat has suddenly acquired an untouchable status among senior officers and everyone is wary of coming here,” said a source. An atmosphere of uncertainty pervades the bank’s headquarters in Ahmedabad and no one seems to know who will take over as the next CGM. The post, normally a prime posting at the inter-state level since over 480 branches all over Gujarat fall under the jurisdiction of the CGM, is thus going abegging at the moment.
It is also believed that within the SBI too, after the issuance of transfer orders against Mr Mehta, an opinion is gaining ground that precious little is likely to be achieved by transferring him now. “Not only is he at the fag-end of his career, with barely five months left for his retirement, but also, he can be of vital assistance in the inquiry being conducted in the bullion scam, since he has been at the helm of affairs in the state for so long,” a banking source said.