Rajnish Kumar appointed as Chairman of State Bank of India

Rajnish Kumar
Rajnish Kumar
Mr. Rajnish Kumar, Managing Director, State Bank of India (SBI), the country's largest lender, has been appointed as its Chairman, succeeding Ms. Arundhati Bhattacharya.
"The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Mr. Rajnish Kumar, Managing Director (MD), State Bank of India as Chairman, State Bank of India (SBI)," a notification from the Department of Personnel and Training, said.
The appointment will be for a period of three years from the date of his taking over charge of the post on or after October 7, or until further orders, whichever is earlier, the notification added.
“It is indeed an honour to be entrusted with the leadership of SBI at a time when India is best poised for growth. 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," Mr. Kumar said.
Mr. Kumar has been Managing Director of SBI since May 26, 2015. Currently, he is looking after retail banking and latest initiatives in payments and digital banking. Prior to that, he headed SBI Capital Markets Ltd., which is the merchant banking arm of SBI, in the capacity of MD & CEO.
Mr. Kumar, who has an M. Sc. in Physics and is a Certified Associate of Indian Institute of Bankers (CAIIB), has been with SBI for over three decades, having joined the bank as a probationary officer in 1980. He has held several key assignments across various business verticals, including two overseas assignments in Canada and the United Kingdom. He has vast experience in handling large credit, project finance, forex and retail banking. He has also held important positions such as Regional Head - SBI (UK); Chief General Manager - North East Circle, Chief General Manager - project Finance and Managing Director (Risk & Compliance). 
Ms. Bhattacharya had assumed charge as Chairperson of SBI on October 7, 2013. She was given a one-year extension in tenure last year.


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