All you need to know about the appointment of Arijit Basu as the Managing Director of SBI

State Bank of India has appointed ArijitBasu as the Managing Director of the bank. Basu’s appointment is w.e.f. the date that he takes over the charge of this post till the date of his superannuation i.e. October 31, 2020. The date could change in case there are any further orders. Before Basu had been promoted to the position of MD, he was the Deputy Managing Director.
The government has appointed ArijitBasu as managing director for SBI because of vacant position due to the elevation of Rajnish Kumar from the post of chairman. SBI is known to be the country’s largest lender of all times. After this new appointment, the SBI will have four managing directors. According to theState Bank of India Act, the bank can have four managing directors. Official statement has been released regarding the government appointing deputy managing director Basu as the managing director of SBI.

Basu’s Career Graph

Basu is a graduate in Economics and also holds a Master of Arts degree in History. He had started his career with State Bank of India in the year 1983 as a probationary officer.Prior to becoming deputy managing director, Basu has served as managing director of SBI Life Insurance.
Basu has held several key positions in various circles of SBI including its office at Tokyo. In another statement, SBI quoted to also have appointed Chief Risk Officer (CRO) according to the RBI’s direction.
Anil Kishore: Deputy Managing Director and Chief Risk Office (CRO)
The released statement also said thatAnil Kishore has been appointed as the deputy managing director and chief risk officer (CRO) of the bank for a period up till May 2020as perthe executive committee of the central board in its meeting.