Rajnish Kumar to be new SBI chairman

Kumar is at present one of the four managing directors at SBI, looking after the National Banking Group

Rajnish Kumar was on Wednesday named the new chairman of State Bank of India (SBI), the country’s biggest lender. He would take over from current Chairman Arundhati Bhattacharya, who will complete her four-year term on Friday.

Kumar, 59, is at present one of the four managing directors at SBI, looking after the National Banking Group — which covers the retail, SME and agriculture business verticals. He had joined the lender in 1980. The Appointments Committee of the Cabinet approved his appointment as the SBI chairman for a period of three years from the date of taking over the charge on or