Search the Internet          Tips  Sites: Finance, Investment

Batra, Govindarajan in race for MD slot at SBI

BS Banking Bureau

The fight is between A K Batra and S Govindarajan, two deputy managing directors of State Bank of India, for the post of the managing director at the bank which has been created following the appointment of Vepa Kamesam as deputy governor, Reserve Bank of India.

Kamesam, managing director and head of national banking group, stepped down on Saturday. The other managing director, Y Radhakrishnan, heads the corporate accounts group of SBI.

The contenders for Kamesam's post are two deputy managing directors -- Batra and Govindarajan. Batra is currently holding the portfolio of corporate development officer, while Govindarajan, based in Hyderabad, is in charge of audit and inspection.

Govindarajan is slated to retire in July 2002, while Batra's stint will continue till August 2003. Since the two-year residual service rule does not apply to the candidates for the managing director's post, Govindarajan may have a slight edge over Batra.

Had Kamesam retired in the normal course in September, the automatic choice for the post would have been Batra since in that case Govindarajan would have been left with less than one year of residual service. However, since the vacancy is created in July, Govindarajan may get the nod as he is senior to Batra. But if the government is looking for a relatively longer tenure for the new managing director, the choice will fall on Batra.

Govindarajan was earlier DMD and chief financial officer, while Batra headed one of the associate banks. D P Roy, senior most DMD in the bank, is slated to retire later this year.

Powered by

YOU MAY ALSO WANT TO READ:
The Rediff-Business Standard Special
The Budget 2001-2002 Special
Money
Business News

Tell us what you think of this report