SWIFT India Domestic Services, the local unit of SWIFT (Society for Worldwide Interbank Financial Telecommunication) global that facilitates international payments functions for banks, has named Arundhati Bhattacharya, the former chairman of State Bank of India, as its chairman, said a report by The Economic Times.
Bhattacharya confirmed her appointment to the newspaper. “The venture has a huge potential to contribute significantly to the financial community in many domains,” Bhattacharya was quoted as saying by ET.
Bhattacharya would succeed MV Nair who retires after about five years of heading SWIFT India, said the report. This is an interesting time for SWIFT too as developments in financial technology space is throwing up new challenges for the institution, according to the report.