On Monday, the State Bank of India (SBI) made an announcement declaring Arijit Basu as the new Managing Director of the Bank.
Basu has completed his graduation in Economics and also holds a degree of Master of Arts in History. Reports have confirmed that Arijit Basu will be handling the areas of Commercial Credit and IT and will also be given an additional charge of Stressed Assets Resolution Group.
Before his appointment as the Managing Director, Arijit Basu was serving as the Deputy Managing Director (DMD) in the State bank of India.
Arijit Basu holds an experience of 35 years and he has also served at the SBI's Life Insurance Company as the MD and CEO from the August 2014 to March 2018. During his working period, the company successfully made it to the list of the top Stock Exchanges in October, 2017.
Arijit Basu also conducted certain major assignments for the SBI counting along Chief General Manager of Delhi Circle and Regional Head & CEO of Japan Operations at Tokyo.
The newly appointed Managing Director has also worked in various fields of the Bank including Corporate Banking, International Banking, Retail Banking and HR and has also been a part of the Business Process Reengineering (BPR) initiative helmed by the Bank.