Arundhati Bhattacharya

India needs 'fewer' but stronger Public Sector Banks (PSBs), and the smaller ones could be privatised or merged, former SBI chief Arundhati Bhattacharya has said.

Ms Bhattacharya, 64, will be based in Mumbai and will join in April, the source added. She is currently chairman of SWIFT India, part of a global payments network.

State-run banks, including SBI, have battled rising bad loans in recent years.

SBI, which accounts for more than a fifth of India's banking assets, saw stressed assets rise after it absorbed five subsidiary banks earlier this year.

Rajnish Kumar, who currently holds the position of managing director for national banking group at SBI, has been appointed chairman for a tenure of three years.

State Bank of India (SBI), the country's largest bank, also said State Bank Institute of Management (SBIM) is "equipped to be a leadership institute aspiring to be a leader among emerging countries in financial sector training".

SBI chairperson Arundhati Bhattacharya said the government was playing its role in giving a boost to the credit and investment cycle by announcing the projects.

"Equity capital is a much-neglected area in the SME sector," said State Bank of India chairman Arundhati Bhattacharya.

SBI merged its five subsidiaries and Bharatiya Mahila Bank, which resulted in a massive spike in its provisions and bad loans ratio that touched double digits in the first consolidated results announced earlier this month, though this led to the creation of the 45th largest bank in the world.

The card carries with it various offers like Amazon vouchers, e-shopping rewards up to 10 times etc.

CEO Arundhati Bhattacharya inherited a miserable portfolio of dubious corporate loans, which post-merger have swelled to almost 10 percent of the total.

SBI Chairman Arundhati Bhattacharya said the rate cut will perk up market sentiments.

Crisil has pegged an additional burden of Rs 40,000 crore or 25 per cent more towards provisioning for these 12 accounts which have been sent for insolvency by RBI.

ICICI Bank's Chanda Kochhar received a basic salary of Rs 2.66 crore last fiscal besides Rs 2.2 crore performance bonus compared with SBI chairman's package of Rs 28.96 lakh.

Russian state oil firm Rosneft has struggled to close the acquisition because of debts owed by Essar to several Indian banks.

India needs 'fewer' but stronger Public Sector Banks (PSBs), and the smaller ones could be privatised or merged, former SBI chief Arundhati Bhattacharya has said.

Ms Bhattacharya, 64, will be based in Mumbai and will join in April, the source added. She is currently chairman of SWIFT India, part of a global payments network.

State-run banks, including SBI, have battled rising bad loans in recent years.

SBI, which accounts for more than a fifth of India's banking assets, saw stressed assets rise after it absorbed five subsidiary banks earlier this year.

Rajnish Kumar, who currently holds the position of managing director for national banking group at SBI, has been appointed chairman for a tenure of three years.

State Bank of India (SBI), the country's largest bank, also said State Bank Institute of Management (SBIM) is "equipped to be a leadership institute aspiring to be a leader among emerging countries in financial sector training".

SBI chairperson Arundhati Bhattacharya said the government was playing its role in giving a boost to the credit and investment cycle by announcing the projects.

"Equity capital is a much-neglected area in the SME sector," said State Bank of India chairman Arundhati Bhattacharya.

SBI merged its five subsidiaries and Bharatiya Mahila Bank, which resulted in a massive spike in its provisions and bad loans ratio that touched double digits in the first consolidated results announced earlier this month, though this led to the creation of the 45th largest bank in the world.

The card carries with it various offers like Amazon vouchers, e-shopping rewards up to 10 times etc.

CEO Arundhati Bhattacharya inherited a miserable portfolio of dubious corporate loans, which post-merger have swelled to almost 10 percent of the total.

SBI Chairman Arundhati Bhattacharya said the rate cut will perk up market sentiments.

Crisil has pegged an additional burden of Rs 40,000 crore or 25 per cent more towards provisioning for these 12 accounts which have been sent for insolvency by RBI.

ICICI Bank's Chanda Kochhar received a basic salary of Rs 2.66 crore last fiscal besides Rs 2.2 crore performance bonus compared with SBI chairman's package of Rs 28.96 lakh.

Russian state oil firm Rosneft has struggled to close the acquisition because of debts owed by Essar to several Indian banks.