New chairman SBI Rajnish kumar: Rajnish Kumar has been appointed as the new Chairman of largest Public sector bank, the State Bank of India (SBI), replacing Arundhati Bhattacharya, who completes her one year extended term on Friday. Rajnish, who is now the Managing Director of SBI, faces the daunting task of addressing the issue of huge non-performing assets (NPA) of the bank.The appointment committee of the Cabinet approved Rajnish Kumar’s appointment for three year from the date of taking charge on or after October 7, said an order issued by the Department of Personnel and Training (DoPT). Rajnish Kumar, aged 59, Joined the SBI board on may 26, 2015.Prior to this appointment, he was managing Director, compliance and Risk, and Managing Director and Chief Executive officer of SBI Capital Markets Limited, the merchant banking arm of the SBI, according to his official biodata. Kumar has also worked as Chief General Manger, Project Finance and Leasing Strategic Business Unit, It said.He has several key assignments across various business verticals, including two overseas assignments in Canada and the United Kingdom. Arundhati Bhattacharya became the first woman chairperson of the SBI in 2013.She was given a year’s extension in October last to ensure continuity, as the SBI was then in the process of absorbing five associates banks. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and Bharatiya Mahila Bank merged with SBI on April 1, 2017.
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