Saraswat Bank, a leading cooperative bank, appointed whom as its Managing Director in 2017?

Introduction / Context:
This question tests awareness of appointments in the banking sector, specifically within cooperative banking. Saraswat Bank is one of the largest urban cooperative banks in India. In 2017, it appointed a new Managing Director, and the question asks you to identify this person from the options provided.

Given Data / Assumptions:

• The bank is Saraswat Bank, a cooperative bank.
• The year of appointment is 2017.
• The position is Managing Director.
• The options list several female names, but only one matches the actual appointee.

Concept / Approach:
Appointments of women as heads of financial institutions are often highlighted in news and exam material. Saraswat Bank appointed Smita Sandhane as its Managing Director in 2017, making headlines in cooperative banking circles. The other names in the options either refer to people from different fields or are distractors created for the exam.

Step-by-Step Solution:
Step 1: Recall from banking current affairs that Saraswat Bank announced a new Managing Director in 2017. Step 2: Remember that the name of this appointee is Smita Sandhane. Step 3: Compare this memory with the list of options, which includes her name as one of the choices. Step 4: Select Smita Sandhane as the correct answer.

Verification / Alternative check:
Official announcements by Saraswat Bank, as well as press reports in financial newspapers, clearly state that Smita Sandhane took over as Managing Director in 2017. No credible source associates this position during that year with the other names in the options, confirming that they are not correct answers for this particular question.

Why Other Options Are Wrong:
Shikha Pandey and Kavitha Chander: These names do not correspond to the person appointed as Managing Director of Saraswat Bank in 2017. Laxmi Sadhana: Another distractor name without a link to the actual appointment. Arundhati Bhattacharya: She is well known as a former chairperson of State Bank of India, not the MD of Saraswat Bank.

Common Pitfalls:
Candidates may be tempted to choose a more familiar banking figure like Arundhati Bhattacharya simply because they recognise the name, even though she was not associated with Saraswat Bank. Another error is failing to differentiate between positions at public sector banks and those at cooperative banks. To avoid such mistakes, it helps to match specific names with the specific institutions they lead.

Final Answer:
In 2017, Saraswat Bank appointed Smita Sandhane as its Managing Director.