Rajnish Kumar is chairman, SBI
Rajnish Kumar, MD, State Bank of India, has succeeded Arundhati Bhattacharya as chairman of the bank. Kumar said in a statement immediately after the notification about his appointment: “I look forward to serving the bank to the best of my abilities along with the support of all my colleagues spread across the globe.” The Appointments Committee of the Cabinet approved his appointment for 3 years from the date of taking charge. Kumar, 59, joined SBI as a probationary officer in 1980 and has worked in various departments. He became MD - National Banking Group of the bank in 2015. Earlier, he headed the merchant banking arm, SBI Capital Markets, as MD and CEO. He has worked in credit, project finance, foreign exchange and retail banking divisions of the bank and has been holding responsibilities for the bank in Canada and the UK. Bhattacharya had assumed the position of chairman of the bank in 2013, the first woman to do so. She was given a year’s extension in October 2016 to ensure continuity during the process of merging the associate banks.