The Appointments Committee of the Cabinet has apprived the appointment of Ashwani Bhatia as the new Managing Director of State Bank of India. He currently is the Deputy Managing Director of the state-run lender. Bhatia will succeed PK Gupta who superannuated on March 31. He will remain in office till the date of his superannuation, May 31, 2022, or further orders, whichever is earlier, the government said in a statement on Friday.
Necessary communication in this regard has been sent to the Department of Financial Services. the statement further read.
Bhatia is a longstanding employee of the State Bank group, holding various positions across various arms of the organisation during his 34-year-long stint with the bank. He has worked with State Bank of India, SBI Mutual Fund and SBI Capital Markets so far. Currently he is the Managing Director and Chief Executive Officer of SBI Mutual Fund. He has also worked as the Chief General Manager of SBI, and President and Chief Operating Officer at SBI Capital Markets.