Saraswat Bank appoints Smita Sandhane as MD

Q.  Who has been appointed the MD of India's largest urban cooperative bank, Saraswat bank?
- Published on 11 Apr 17

a. Smita Sandhane
b. Arundhati Bhattacharya
c. Chanda Kochar
d. Shikha Swarup

ANSWER: Smita Sandhane
Saraswat Bank appoints Smita Sandhane as MDSandhane is the first woman chief of India's largest cooperative bank, taking charge as MD of the bank w.e.f. April 1, 2017.

Before her elevation, she was Joint MD of the bank. She has been with the bank from 1982.

Sandhane has taken over from S.K. Banerji, who retired from the services of the bank on March 31, 2017.

Banerji is now an Advisor to the bank's board.

The new MD has worked across various operational spheres at branches, departments and zones. She has served as Head - Wholesale Banking Department and Head – Planning, Accounts and Stressed Assets.

She successfully executed the merger and consolidation plans of three other co-operative banks into Saraswat Co-operative Bank Ltd.

She has also been critical for laying the operational road-map for their smooth transition into the bank’s mainstream business and was also instrumental in substantial recoveries in the NPA accounts of these banks.

Saraswat Bank: Know More
  • Headquarters: Mumbai
  • Founded: 14 September 1918
  • Revenue: 394.1 billion INR (US$5.9 billion, 2013–2014)
  • Net income: 1.471 billion INR (2013–2014, US$22 million)
  • Number of employees: 4,351

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