Arundhati Bhattacharya frontrunner for SBI top job

Arundhati Bhattacharya is believed to be the front-runner for the post of chairperson of country's largest lender State Bank of India (SBI), sources said.

According to a report in the Mint,Finance Minister P Chidambaram has cleared the name of Bhattacharya for the post of chairman but her name will be finalized for the top job only after the appointments committee of the cabinet (ACC), headed by Prime Minister, gives its clearance.

According to the report, the announcement is likely by the end of this month. If indeed that happens, she will be State Bank's first woman head.

Last week, a government appointed search panel had shortlisted names of two managing directors- Bhattacharya and S Viswanathan- for the top job at the SBI.

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However, the final decision will be taken by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Manmohan Singh.

[caption id="attachment_1119589" align="alignleft" width="380"] Current Chairman Pratip Chaudhuri is set to retire at the end of this month.[/caption]

Bhattacharya is currently managing director of SBI.

Current Chairman Pratip Chaudhuri is set to retire at the end of this month.

As per the norms, a candidate for the post of Chairman is eligible for the interview if he/she has at least two years of service left before retirement.

Bhattacharya has also served as MD and Chief Executive of SBI Caps, the merchant banking subsidiary of SBI.