The Government on Friday appointed Arjit Basu as Managing Director of the country’s largest lender State Bank of India. He will replace the position Rajnish Kumar who elevated as the Chairman of State Bank of India.
Now including Arjit Basu, SBI has total four Managing Directors; B. Sriram, P K Gupta and Dinesh Kumar Khara are other three existing Managing Directors.
TOI Reports, according to a statement, the government has appointed Deputy Managing Director Basu as Managing Director with effect from the date of taking over charge till his superannuation in October 2020.
Prior to this, he has been Dy. Managing Director of SBI and previously also worked as Managing Director & CEO at SBI Life Insurance.
Basu started his career in banking with SBI in 1983 as a probationary officer. An economics graduate with an MA in History, Basu has over three decades of experience in the banking sector. He has held various positions in different circles of SBI including the office in Tokyo.