The Centre has named Ashwani Bhatia as the new Managing Director (MD) of India’s largest public sector lender State Bank of India (SBI).
Bhatia appointment as the MD will be valid till May 31, 2022, an order from Personnel Ministry stated.
Currently, Bhatia is working as the managing director and chief executive officer at SBI Mutual Fund. Bhatia will succeed P K Gupta who superannuated on March 31.
Prior to joining SBI Mutual Funds, Bhatia was in charge of transforming the entire credit structure and processes of SBI. He was also associated with SBI Capital Markets, as president and chief operating officer and whole time director.
In his association of over three decades with SBI, Bhatia has worked under various functions and assignments gaining dense experience across various facets of commercial banking namely forex and treasury, retail credit and liability and corporate credit.
Banks Board Bureau, chaired by former Department of Personnel and Training Secretary B P Sharma, recommended Ashwini Bhatia name for the position. Formed in 2016, Banks Board Bureau makes recommendations for the appointment of whole-time directors as well as non-executive chairpersons pertaining to public sector banks (PSBs).