Business

Frontrunner Rajnish Kumar To Take Over As Next SBI Chairman

News World India | 0
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| October 4 , 2017 , 16:43 IST

After weeks of speculation and wondering, frontrunner Rajnish Kumar has finally been named as the new chairman of the country's largest lender State Bank of India.

Currently the managing director with the bank, Rajnish Kumar will be succeeding Arundhati Bhattacharya as she completes her term later this week.

According to sources, Kumar will get a three-year term as chairman and managing director (CMD) in the public bank.

The Banks Board Bureau (BBB) had interviewed four of the bank's managing directors for the chairman post back in June and recommended one name to the government, reports said.

Kumar joined State Bank of India as the probationary officer back in 1980 and had worked in a number of departments before being appointed as one of the managing directors.

He was heading SBI's merchant banking arm back in 2015 as managing director and CEO of SBI Capital Markets.