Arundhati Bhattacharya gets year-long extension as SBI chief

According to sources Arundhati Bhattacharya has secured a year's extension as the chairperson of the State Bank of India (SBI) to oversee the merger of six smaller commercial banks into the country's largest lender.

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Her tenure was to end on October 6.

The government last month gave its nod for the merger of six banks -- State Bank of Bikaner and Jaipur, State bank of Travancore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Maharashtra and Bharatiya Mahila Bank -- into the State Bank of India.