Chaudhuri succeeds managing director R Sridharan, who was the acting chairman after O P Bhatt retired on March 31.
"Rates are high and obviously it is hurting the industry. We are all hoping for that (lending rates to fall). In the long term, one of the things that will make industry viable and investment come back is to have lower lending rates," Diwakar Gupta, managing director and chief financial officer of SBI, said on Wednesday.
Last year SBI's credit growth was 15.6 per cent.
The state-owned lender has been contemplating a Rs 20,000 crore (Rs 200 billion) rights issue for nearly a year now, but is yet to get a go-ahead from the government, which owns a 59.40 per cent stake in the bank.
'...the President is pleased to accept the resignation tendered by Shri Ashok Lavasa, Election Commissioner with effect from the 31st August, 2020,' the notification said.
Describing RBI policy as not surprising, State Bank of India Managing Director and Chief Financial Officer Diwakar Gupta said there is room for the central bank to look at the long-term and not too much on the short-term issues like rupee fall and the CAD.
Lavasa would soon be joining the Asian Development Bank as vice president
Arundhati Bhattacharya is a strong contender for chairperson post, after Pratip Chaudhuri retires in September.
Lavasa, a career bureaucrat, joined as Election Commissioner on January 23, 2018, and being senior most on the poll panel would have become CEC in April next year after the term of incumbent Sunil Arora ends.
The Supreme Court collegium has for the second time reiterated the names of two advocates -- Amitesh Banerjee and Sakya Sen -- for appointment as judges of the Calcutta high court "expeditiously", saying it was not open for the government to repeatedly send back the same proposal.
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
Rediff readers shared their election style. Scroll down to take look.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
Given the controversy over Uttar Pradesh's population control moves, Hemant Shivsaran/Rediff.com digs deep to find out how many children BJP MLAs in UP have.
As round one of the seven-phase Lok Sabha election began in 91 constituencies across the length and breadth of India, from the hills of Kashmir to the islands of Andaman and Nicobar, reports of unrest and irregularities cast shadows over the world's biggest poll process.
'I am not human... :)' SS Rajamouli has some fun on Rediff Chat.
Yash Birla, one of most prominent businessmen of India, had a lively interaction with rediff.com readers when he hosted a chat on Tuesday.
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