Reliance Industries Ltd (RIL) has appointed former State Bank of India (SBI) chairman Arundhati Bhattacharya as an independent director of the company.
“The board of directors has appointed Bhattacharya as an Additional Director of the company, designated as an independent director. Bhattacharya is appointed for a period of five years commencing from October 17, 2018, subject to approval of the shareholders,” the firm said in an exchange filing.
Bhattacharya has 40 years of experience in India’s financial sector working across varied roles and diverse national & international locations, RIL said. During her four years tenure as the first-ever woman Chairman of SBI, she has stamped her imprint on the financial world not just in India but globally as well. “She is credited with upscaling the bank’s technology initiatives in order to give this 212 year old largest bank of India (22 per cent market share) a digital edge that has been acknowledged by Industry as path breaking,” RIL said.
Other notable initiatives during her Chairmanship include the overhauling of the bank’s risk structure and implementation of various technology tools for this purpose, as well as enhancing enterprise wide risk awareness and sensitivity, through various training initiatives, it said.
In 2017-18, RIL paid Rs 1.5 crore commission and sitting fees to independent directors, according to the company’s Annual Report.
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