SWIFT India Monday said it has appointed ex-SBI chief Arundhati Bhattacharya as the new chairman of its board. SWIFT India is a joint venture of top Indian public and private sector banks and SWIFT (Society for Worldwide Interbank Financial Telecommunication). Bhattacharya will succeed former banker M V Nair, who is stepping down after completing five years with the company, SWIFT India said in a statement. The company was created to deliver high quality domestic financial messaging services to the Indian financial community. Bhattacharya said the venture has a huge potential to contribute significantly to the financial community in many domains. Nair said: "It has been a fulfilling journey with SWIFT India which is a unique venture on many counts. I would like to thank everyone associated in building this venture from scratch." SWIFT India CEO Kiran Shetty hoped to work closely with the former SBI head.