Arundhati Bhattacharya the leading lady behind the success and rise of India’s largest bank SBI is rumored to lead prestigious World Bank as MD and COO. Arundhati played a crucial role in Merger of SBI which was a difficult task as there was dissent from employees and managements of Individual banks. Earlier this year she was rumored to become RBI governor replacing Raghuram Rajan but suddenly Urjit Patel came in to the picture and took the charge as governor.
If she succeeds, Bhattacharya, 60, will be the first Indian to be holding an important position in an international financial institution. The closest was in 2001 when former deputy chairman of the Planning Commission Montek Singh Ahluwalia was appointed as first director of the independent evaluation office of the International Monetary Fund.
Bhattacharya was ranked 25th in the Forbes 2016 list of ‘The World’s 100 Most Powerful Women’, which features top female leaders, entrepreneurs, investors, scientists, philanthropists and CEOs.
Currently there is no confirmation yet from either Arundhati or Govt of India but there seems to a heavy lobby from finance ministry who are in the process of confirming the position.This will be a good sign for Indian Economy and government can do better lobby for bigger infrastructure projects.
Accoding to the data available online India is the largest recipient of loans from World Bank for 70 years with more than 101B USD in loans. World back works with a mission to eliminate poverty and give better living standards to people around the world. Most of the investments are used by governments on Infrastructure, Healthcare and education.
If the rumors become true Arundhati will be reporting to world bank president Jim Yong Kim.