State Bank of India, the country's largest lender, on Monday said Ashwani Bhatia has taken charge as its managing director. Bhatia is the fourth MD of SBI, with Dinesh Khara, Arijit Basu and C S Setty being the other three.
Bhatia will be holding this position up to the date of his superannuation, that is, May 31, 2022. He will be responsible for the IT and Stressed Assets Resolution Group (SARG) in this new role, the bank said in a press release.
Prior to his appointment as MD, Bhatia was MD and CEO of India's largest asset management company, SBI Funds Management Pvt Limited. He has rich experience of over three and a half decades in the State Bank Group. Before joining SBI Funds Management Private Limited, he was working as a Chief General Manager, Corporate Centre in SBI, where he was responsible for revamping credit structure and processes of the bank.
Bhatia started his career with SBI in 1985 as a probationary officer. Some of his key positions in the bank include Chief General Manager- SME, General Manager (Heading retail operations of Haryana, HP, Jammu and Kashmir, Punjab, and Chandigarh), and various others in Network Banking, Credit, Investment Banking and Asset Management. He has spent more than a decade in the bank's treasury as DGM (Forex), DGM (Interest Rates), AGM & Chief Dealer in the equities market. He has also had a stint with SBI Capital Markets as President & COO and Whole-time Director for over two years.
Bhatia is a Graduate in Physics & Mathematics from Dayalbagh, Agra, and is an MBA from Podar Institute of Management, Jaipur.
Meanwhile, shares of SBI closed Monday's trade at Rs 201.40, up 1.54 per cent, on the Bombay Stock Exchange.