• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, Oct. 30 The SBI Chairman, Mr O.P. Bhatt, has renewed his request to appoint two retired SBI officials as advisors. The move has annoyed the Reserve Bank of India as well as the Finance Ministry. The request has been turned down once.

The advisors, if appointed, will draw higher salaries than they were drawing while in service and also have more powers than earlier. The two proposed advisors are Ms Bharati Rao and Mr K. Hariharan. Their terms are to be co-terminus with his.

The SBI top brass are not amused. They feel that this will further weaken the system of checks and balances in the system.

This is not the first time that Mr Bhatt has proposed highly unusual steps. Some time ago, he more-or-less abolished the post of deputy general managers who used to supervise regional managers.

This was done to speed up operations, Mr Bhatt had explained. But the officers are unhappy.

Mr Bhatt is yet to suggest a name to the government for appointing as Managing Director. There are two posts, but one of them has been lying vacant since January.

Mr Bhatt has also taken to operating through the Executive Committee which has two shareholder members. Most decisions are taken there now.

More Stories on : Public Sector Banks | State Bank of India | People

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line