The task before the new SBI boss

The State Bank of India can be taken to the next level by transforming it into a marketplace to meet the financial needs of its corporate clients across the value chain

SBI Chairman Rajnish Kumar, state bank of india

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When Rajnish Kumar took over, SBI’s deposit portfolio was Rs 26.23 trillion. By June 2020 (the quarter for which the latest data is available), it had risen to Rs 34.19 trillion

Tamal Bandyopadhyay New Delhi

6 min read Last Updated : Oct 05 2020 | 1:45 PM IST

Rajnish Kumar moved into the corner room at India’s largest lender on 7 October 2017 with a broom. In the next three quarters, the State Bank of India (SBI) announced losses in a row, some Rs 15,010 crore — unprecedented in its 215-year history.

In his 40-year career, Kumar missed a promotion only once, but that didn’t come in the way of getting the top job. One quality that distinguishes Kumar from many of his peers is his no-frills approach to banking. He doesn’t show off as a great visionary but knows how to clean up the bad-loan mess

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Topics : Reserve Bank of India State Bank of India chief Rajnish Kumar sbi Indian Banks Non-performing assets monetary policy committee

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