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This story is from June 1, 2006
Bhattacharya is new SBI chairman
Tara Shankar Bhattacharya, MD, SBI, has been appointed as the country's largest bank's interim chairman.
The finance ministry on Wednesday said Bhattacharya would co-ordinate the day-to-day affairs of the bank, with effect from June 1, until further orders.
The finance ministry note said the financial and administrative power attached to the post of the chairman would be exercised by Bhattacharya with the approval of the central board of directors of the bank.
Bhattacharya was competing with Om Prakash Bhatt, MD, SBI. Banking circles were abuzz with rumours that Bhattacharya had the strong backing from the Communists parties, major alliance partner of the Congress-led United Progressive Alliance.
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