It's conjecture: SBI chief Arundhati Bhattacharya on being in race for Sebi Chairman

BENGALURU: Amid talks of she being in the race for the post of Sebi chief, SBI Chairman Arundhati Bhattacharya today said this is in "the nature of conjecture" as of now and she is very much focussed on her current role. "These (reports) are in the nature of conjecture at this point of time. We will see how things happen, but at this point, I am very much focussed on State Bank of India," she told reporters at the launch of an SBI branch dedicated to start-ups.

"I am very focussed on getting to do things which we believe that this huge institution can do very well." There have been reports in a section of the media that said government has short-listed seven candidates for the post of Chairman of the Securities and Exchange Board of India and Bhattacharya is a top contender.

The incumbent U K Sinha's term ends on February 17.

Last year too, there were reports that swirled around Bhattacharya being in the race after the government put out an advertisement seeking applications for the post from candidates aged 50-60, including those from the private sector.

It was also reported earlier that Bhattacharya had "applied" for the job as the search committee was given permission to suggest names of a competent person who hasn't even applied. Asked which post she would love to occupy given a choice, Bhattacharya declined to answer.



Asked about the progress made by SBI on meeting March 2017 deadline to clean up the balancesheet and action taken against defaulters, including liquor baron Vijay Mallya, Bhattacharya said, "Whatever action is required to be taken against NPA borrowers, they are very much on." She added: "Yes, the central bank has stated that by March 2017, we need to complete the exercise - we will make an effort to complete the exercise and would be happy to do it even earlier, if possible."

She made it clear that certain processes take time and they are not subject to her requirement of particular dates to complete the process.

"We will continue with the processes as best as we can, and there have been a lot of efforts that we have been doing in the past many years to come out of this downturn," she said.

On bankers' Budget wish-list submitted to Finance Minister Arun Jaitley, Bhattacharya said there were a host of suggestions, including increasing exemption under ATC, and the bankers are hopeful that a few of them will make it to this year's Budget.

The bankers also suggested incentivising investment credit in agriculture rather than crop financing.