Rajnish Kumar to be new chairman of SBI

Jon Howard
October 5, 2017

SBI's new chief Rajnish Kumar is not an outsider to the bank and now serves as one of the four managing directors at SBI. Rajnish Kumar, who has been appointed for three years, is a current managing director with the bank.

He now, holds the post of managing director of SBI, he started out as a probationary officer with the organisation and has performed different roles before being appointed to the top spot.

Rajnish Kumar will be the new chairman of the State Bank of India, succeeding Arnudhati Bhattacharya, who is retiring this week.

Still, Kumar will inherit such challenges as the State Bank of India's asset-quality problem following the merger of the associate banks, which was completed in April.

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He was heading SBI's merchant banking arm back in 2015 as managing director and CEO of SBI Capital Markets.

Arundhati Bhattacharya was appointed to the top post in October 2013. But stepping into Bhattacharya's shoes (who was SBI's first woman chairman) will be a daunting task for the 59-year-old Kumar. Bhattacharya was granted a one-year extension in October 2016, to maintain continuity in leadership during the merger. In his more than three decade long career, Kumar has held such important positions as Deputy General Manager, Pune Zone; General Manager (NW-II), Mumbai; Regional Head, SBI (UK); Chief General Manager, North East Circle and Chief General Manager, Project Finance. Currently, he is holding the position of managing director of the bank.

Kumar brings with him vast experience in handing large credit, project finance, foreign exchange and retail banking.

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