To head the country’s largest bank, Rajnish Kumar has been appointed as the new chairman of State Bank of India (SBI). Rajnish will be replacing the current chairman Arundhati Bhattacharya, whose term will be ending this week. Rajnish is currently the managing director of SBI and he will be taking charge as the chairman on October 7. It’s been quite a long journey for Rajnish and quite a fulfilling one as he has reached the top of his career to become the chairman of SBI. He had started his banking career in 1980 and at that time, he was a probationary officer. It’s good to see that organizations like SBI promote their own people to the top job rather than hiring someone from the outside. This policy has worked well for SBI, as existing employees have a better understanding of the things inside an organization.
An official letter appointing Rajnish as SBI chairman has been issued by the Department of Personnel and Training (DopT). In his earlier role at SBI, Rajnish had shouldered the responsibility of being the managing director and CEO of SBI Capital Markets. However, Rajnish was not the only suitable person to take the top job. Three other managing directors of SBI – Dinesh Kumar Khar, B Sriram and PK Gupta – were also interviewed for the top job. The interview was conducted by the Banks Board Bureau. Rajnish was finally selected to take the role of the chairman of SBI.