The appointment committee at cabinet has appointed Arijit Basu as the managing director of country’s largest lender State Bank of India. Basu will finally fill in the position that was vacant since the elevation of Rajnish Kumar as Chairman. The new appointment will make SBI have four managing directors.
As per governemnt’s official statement, Arijit Basu has been appointed as the managing director with effect from the date of taking over charge till his superannuation in October 2020.
A graduate in in Economics and a Master of Arts in History, Basu joined SBI first in 1983 as a probationary officer. He has handled several key positions in various cicles of SBI including the bank office at Tokyo. Basu has served as Chief Executive Officer at SBI Life Insurance for four years.
In another statement, SBI said it has appointed Chief Risk Officer (CRO) as per the RBI’s direction. “Accordingly, the executive committee of the central board in its meeting today approved the appointment of Anil Kishore as deputy managing director and chief risk officer of the bank for a period up to May 2020,” it said.