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State Bank of India on Monday said the Centre in consultation with the Reserve Bank of India has appointed Arijit Basu as the Managing Director of the bank. Basu's appointment is with effect from the date of his taking over charge of the post and till the date of his superannuation -- October 31, 2020, or until further orders, whichever is earlier. Prior to his elevation as MD, Basu was Deputy Managing Director.
Following this appointment, SBI now has four MDs, including B Sriram, P.K. Gupta, and Dinesh Khara. The fourth MD's position became vacant in October 2017 following the elevation of Rajnish Kumar as Chairman.
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