(Image source from: Deccanherald.Com)
Rajnish Kumar Appointed as New SBI Chairman:- The Appointments Committee of the Cabinet (ACC) on Wednesday appointed Rajnish Kumar as the new Chairman of India’s largest state run lender, State Bank of India (SBI).
Rajnish, who was one of the frontrunners for the top job at SBI, will remain in service for a period of three years and will continue from October 7. He will succeed Arundhati Bhattacharya, the first woman to be the Chairman of SBI, this week.
(Video Source: CNBC-TV18)
In October 2016, Bhattacharya had got a one year extension for maintaining continuity as the Bank was preparing to absorb five associate banks and the Bharatiya Mahila Bank in April. Currently, Rajinsh Kumar holds the post of Managing Director at SBI. Kumar gets a 3-year term as chairman and managing director (CMD) with this new appointment.
In 1980, Rajnish had joined the bank as a probationary officer and worked in various departments. Kumar was heading the merchant banking arm of the bank, SBI Capital Markets, as managing director and CEO before he became the MD, national banking group in 2015. And before becoming Managing Director in SBI, Rajnish headed the SBI Capital Markets Limited (the Merchant Banking arm of State Bank of India) as Managing Director & Chief Executive Officer.
Whereas, Arundhati Bhattacharya joined SBI in September 1977 as probationary officer at the age of 22 years. During her 36-year career with the bank, she has held several positions. She has worked in foreign exchange, treasury, retail operations, human resources and investment banking.
A two-year sabbatical leave policy was introduced by Bhattacharya for the bank’s female employees to use either for maternity or elder care. Moreover, she announced free vaccination against cervical cancer to all the bank’s female employees on Women’s day.