OP Bhatt is new chief of State Bank of India

Om Prakash Bhatt, present MD of State Bank of Travancore, has been appointed as the new chairman of SBI.

Bhatt will occupy the corner room for five years - one of the longest tenure enjoyed by any chief of the country's largest commercial bank, which along with associate banks, roughly accounts for one-fourth of India's
banking system.

Bhatt's appointment comes a month after incumbent chairman AK Purwar called it a day. Tara Shankar Bhattacharya, who does not have two years of residual service, a prerequisite for the chairman's post, was made the chairman in charge for the last one month.