Government has appointed  Arijit Basu as new managing director of State Bank of India. Prior to becoming deputy managing director, Arijit Basu served as managing director of SBI Life Insurance. He will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman of the SBI. He also served as Chief Risk Officer (CRO).

 Mr Basu is a graduate in Economics and a Master of Arts in History, Basu started his career with State Bank of India in 1983 as a probationary officer.