Rajnish Kumar takes over as the new SBI chairman

Arundhati Bhattacharya

The government today announced the appointment of Rajnish Kumar as the successor to Arundhati Battacharya as the next Chairman of State Bank of India, India's largest lender.

According to a new notification issued by the Department of Personnel and Training (DopT), Rajnish Kumar will take over the position for three years starting from October 7, 2017.

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A Badminton player, Kumar started his career with SBI as a Probationary Officer in 1980. Rajnish will replace Arundhati Bhattacharya this week.

Kumar had assumed charge as Managing Director (National Banking Group) on November 2, 2015, prior to which he was the Managing Director (Compliance & Risk) from May 2015.

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- The Economic Times reported on October 4 that Rajnish Kumar, a managing director at SBI, is the frontrunner among candidates to be the new chairman. But she has made State Bank of India the best of an ailing bunch and stood up to errant tycoons. Kumar holds the distinction of heading several key assignments across various business verticals, including two overseas assignments in Canada and the UK.

He has vast experience in handing large credit, project finance, foreign exchange and retail banking.

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