T. R. Varadachary was an Indian career banker who served as the seventh Chairman of State Bank of India.[1][2]
T. R. Varadachary | |
|---|---|
| 7th Chairman of State Bank of India | |
| Preceded by | Raj Kumar Talwar |
| Succeeded by | P. C. D. Nambiar |
| Personal details | |
| Nationality | Indian |
Career edit
Early career edit
He was a long time member of the Indian Banks' Association. His most notable achievement was the 1977 Final Report of the Working Group on Customer Service in Banks which played a major role in improving the customer service in Indian banks.[3]
He also served as the Vice President of the Indian Institute of Banking and Finance from 1976 to 1977.[2]
Banking career edit
He served as the seventh Chairman of State Bank of India from August 1976 until April 1977.[1][2]
He served as Chairman of State Bank of India for just 269 days and had one of the shortest stints at the post.[4]
Controversies edit
He is notable for the acrimonious circumstances in which his predecessor Raj Kumar Talwar was replaced from his office. A report published in the India Today magazine claimed that T. R. Varadachary paid bribes to Indian politicians in order to become the Chairman of State Bank of India.[4][5][6][7]
T. R. Varadachary's appointment as the Chairman of State Bank of India later became the subject of a major court case and was reported on by all the major Indian newspapers.[8]
References edit
- ^ a b Hazari, Hemindra (3 February 2000). "India Equity Research SBI" (PDF). hemindrahazari.com/. Retrieved 17 June 2021.[1]
- ^ a b c Murti, Padmini (26 August 2015). "The History of The Indian Institute of Bankers 1928-2002" (PDF). iibf.org.in. Retrieved 17 June 2021.[2]
- ^ "Development of Commercial Banking 1950–1990 | Encyclopedia.com". www.encyclopedia.com.
- ^ a b Rajwade, A. V. (27 August 2014). "Corporate governance and NPAs". mint.
- ^ Dadabhoy, Bakhtiar (18 September 2013). Barons of Banking. Random House India. ISBN 9788184004762 – via Google Books.
- ^ Jaffrelot, Christophe; Anil, Pratinav (16 April 2021). India's First Dictatorship. Oxford University Press. ISBN 978-0-19-757782-0 – via Google Books.
- ^ T. N. N. S. Sethi DILIP BOBB C. Joshi (11 August 2014). "The intricate financial web that shrouds Sanjay Gandhi's many-faced Maruti empire". India Today.
- ^ "Smt. Indira Gandhi &... v. Shri J.C Shah, Commi... | Delhi High Court | Judgment | Law | CaseMine". www.casemine.com.