Former Banker and State Bank of India's Chief Arundhati Bhattacharya is learnt of joining the board of Reliance Industries. The 62 year old Bhattacharya will be joining Reliance Industries as an additional director.
The Mukesh Ambani promoted Reliance Industries Limited in a filing on Friday said that Bhattacharya had been appointed for a period of five years, subject to approvals from shareholders.
Bhattacharya, will be the second lady on the Reliance board, the first being Nita Ambani.
Bhattacharya had retired from the bank exactly a year ago, completing a four-year term as the Chairman and an overall forty years with the bank. She had joined the bank as a probationary officer in 1977.
News agencies speculated that Ajay Piramal led Piramal Finance was keen to induct the senior banker. Piramal Finance, according to speculators, could have been in need of a senior banker with regulatory-sight.
The share price of Reliance Industries slipped by 4.11% or 47.25 points to end at 1101.65 post market trading hours on the Bombay Stock Exchange.