Rajnish Kumar appointed as the new chairman of SBI the largest public sector bank. The State Bank of India chose new chairman after the former chairman Arundhati Bhattacharya completed one-year extended term. Rajnish Kumar was the managing director and chief executive officer of SBI. As per the reports, since 1980 Rajnish Kumar had joined the SBI bank as a probationary officer. He has worked in the departments of credit, foreign exchange, retail banking and credit. He did M.Sc. degree in Physics and is a CAIIB.
The Department of Personnel and Training said that committee of the cabinet has approved Kumar’s appointment for three years from the date of taking charge on 7th October. Rajnish Kumar as the new head of SBI will tackle the issues of the bad loans resolution. As per the reports, the gross NPA of the bank stands at 9.93 percent of its total loans or the roughly at Rs 1.90 lakh crores.
The new chairman of SBI Rajnish Kumar said that recently we are concerned with net non performing assets which stans at 3% now. So, NPA is the big challenge for him and a challenging task to resolve NPA issue. He the seniormost person of the SBI who became 25th chairman of country’s largest lender bank.