Rajnish Kumar on Saturday took charge as the new chairman of State Bank of India (SBI) for three years, following the retirement of Arundhati Bhattacharya.
Kumar, who had joined the SBI board on May 26, 2015, looked after retail banking and latest initiatives in payments and digital banking. Prior to that, he headed SBI Capital Markets — the merchant banking arm of SBI — as MD & CEO. Having joined the bank as a probationary officer in 1980, Kumar has spent close to four decades at SBI.
Following his appointment on Wednesday, Kumar said it was 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,” he had said.