According to Fortune Magazine, Country’s largest bank, State Bank of India Chairwoman Arundhati Bhattacharya is the most powerful woman in business in India. ICICI Bank’s Chandra Kochhar and Axis Bank’s Shikha Sharma are at the second and the third place respectively. There are as many as eight newcomers in the Fortune India list of 50 most-powerful businesswomen including Nishi Vasudeva, the chairperson and managing Director at HPCL placed fourth place in the top ten list.

Arundhati Bhattacharya is the first woman to become the chairperson of State Bank of India (SBI), in all 24 people that have acted as chairperson of SBI till date. Bhattacharya succeeded to number one place after her persistent fight against bad loans. Since she aimed over a year or so, in past years, she has turned improvements in asset quality, reduce cost and has recapitalized SBI.  She was also listed as the 36th most powerful woman in the world by Forbes in 2014. She brought a new policy named as ‘two-year sabbatical policy’ for women employees so that they can serve for their children and elders.

“That’s no mean feat when you consider that SBI has 190 foreign offices, a market cap of Rs 1.9 lakh crore and 2, 22,033 employees. The country’s most powerful women in business once again showed that people may change, but the idea of power does not.” Fortune India noted.

The powerful women listed in Fortune India list are from various business sectors including banking, media, fashion, finance, healthcare and entertainment. Other newcomers are  Shahnaz Husain, Founder of Shahnaz Group of Companies; Zarin Daruwala, President wholesale banking ICICI Bank; Archana Hingorani, CEO and ED, IL&FS Investment Managers; Ireena Vittal, Management Consultant Independent Director; Vani Kola, MD Kalaari Capital and Valerie Wagoner, MD Zipdial.

The other women who entered in the top 10 are Zia Mody Co—founder AZB Partners; Preetha Reddy, MD, Apollo Hospital Enterprise; Kiran Mazumdar Shaw chairperson and MD at Biocon and Shobhana Bhartia, Chairperson, HT Media and Mallika Srinivasan CEO of TAFE and Aruna Jayanthi CEO of Capgemini India.

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