The Transformation Doyenne

If money talks, under the stewardship of chairperson and managing director Arundhati Bhattacharya, the State Bank of India has added nearly Rs 4.66 lakh crore assets till March 2016. Ms Bhattacharya took the helm of the country's largest bank in October 2013, and saw the bank grow 26 percent in total assets despite vigorously spring-cleaning the bank's balance sheet in March 2016.

Due to the RBI's new provisioning rules last year, the bank reported a rise in gross non-performing assets to the tune of Rs 41,447 core. But despite the surge in bad loans provisioning, the bank did not report a loss unlike some of its peers, and quickly swung back to doing business of lending. In fact, in the same year the bank increased its advances by Rs 1.6 lakh crore as Bhattacharya set her sights on growing the book on all fronts including personal, and corporate.

Now Bhattacharya is overseeing the amalgamation of its many subsidiaries, which will further cement the position of SBI into the country's number uno bank. Putting matters in perspective, the SBI has over 14,000 branches in all corners of the country, and ranks among Fortune 500 companies.

Bhattacharya grew up in the bank learning the ropes in various departments ever since she joined in 1997 as a probationary officer. She was posted across the country and even did a stint overseas. As Chief General Manager, she ran the new business division of the bank, which turned out to be her biggest learning experience. As she has had first-hand knowledge of the banking working her way up the ladder, Bhattacharya has been able to bring upon the leadership her tremendous banking experience.

She then went on to run the investment banking division, SBI Capital Markets, for a few years and was instrumental in launching fresh initiatives such as SBI General Insurance.
She climbed up the corporate ladder the hard way, to become CFO and MD in 2013. In 2014, she shattered the glass ceiling to become the first chairwoman of the 208-year old bank, that too, a public-sector one. That last year she was given a one-year extension despite crossing the retirement age of 60 speaks volumes of her capabilities and expertise in the banking business and in managing people.

For Ms Bhattacharya, banking was never a calling; she had plans to take up writing and journalism when she was in school and pursued a BA in Literature. While in a hostel, she applied for a probationary officer's post, and breezed through the first set of interviews. There was no looking back since.

Recently, carrying through the de-monetisation exercise has been one of the biggest challenges. But Bhattacharya was a regular on the media, clearing the issues that surrounded the exercise, and assuring people that normalcy would soon return. She also encouraged people to go digital.

In the SBI, she has been focusing on three spheres, increasing productivity, embracing digital activities, and focusing on reducing NPAs. She has always embraced fresh solutions, and has brought about a new zest in the way the bank has been functioning. Now, it no longer looks like a public-sector bank, but a new-age one, ready to scale ever greater challenges.