T. R. Varadachary
7th Chairman of State Bank of India
Preceded byRaj Kumar Talwar
Succeeded byP. C. D. Nambiar
Personal details
NationalityIndian

T. R. Varadachary was an Indian career banker who served as the seventh Chairman of State Bank of India.[1][2]

Career

Early career

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

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

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

  1. 1 2 Hazari, Hemindra (3 February 2000). "India Equity Research SBI" (PDF). hemindrahazari.com/. Retrieved 17 June 2021.
  2. 1 2 3 Murti, Padmini (26 August 2015). "The History of The Indian Institute of Bankers 1928-2002" (PDF). iibf.org.in. Retrieved 17 June 2021.
  3. ↑ "Development of Commercial Banking 1950–1990 | Encyclopedia.com". www.encyclopedia.com.
  4. 1 2 Rajwade, A. V. (27 August 2014). "Corporate governance and NPAs". mint.
  5. ↑ Dadabhoy, Bakhtiar (18 September 2013). Barons of Banking. Random House India. ISBN 9788184004762 – via Google Books.
  6. ↑ Jaffrelot, Christophe; Anil, Pratinav (16 April 2021). India's First Dictatorship. Oxford University Press. ISBN 978-0-19-757782-0 – via Google Books.
  7. ↑ 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.
  8. ↑ "Smt. Indira Gandhi &... v. Shri J.C Shah, Commi... | Delhi High Court | Judgment | Law | CaseMine". www.casemine.com.
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