A K Batra
and P N Venkatachalam have been appointed managing directors
of State Bank of India (SBI).
was deputy MD and group executive (national banking group
[NBG]), and Batra was deputy MD and group executive (corporate
banking group [CBG]). The two top slots were lying vacant
ever since S Govindarajan and Y Radhakrishnan retired
as managing directors.
NBG, to be headed
by Venkatachalam, provides banking services to customers
through two retail and commercial nationwide networks.
NBG has over 9,000 branches under 14 administrative circles.
now under Batra, operates through three strategic business
units corporate accounts group (CAG), leasing and project
finance. While CAG deals with the top corporates in the
country, the project finance unit handles infrastructure
and core sector accounts and the leasing unit takes care
of the leasing business.