The struggle for the soul of India’s biggest bank

To walk into State Bank of India’s headquarters in Mumbai is to enter, unmistakably, the sphere of the state. Men in khaki guard the gate, a protocol officer greets guests and the screen in the lift plays a clip of India’s finance minister. The chairman’s suite has been occupied since April 2011 by Pratip Chaudhuri, and if his unflashy suit and modest manner are typical of India’s financial technocrats, his take on the past year at India’s biggest bank by assets, and Asia’s 20th, is unusually blunt.

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