Rajnish Kumar joins BharatPe as Chairman

WHY IN NEWS?

Former chief of State Bank of India, Rajnish Kumar, has joined the Board of BharatPe as chairman.

About:

• Rajnish Kumar will get involved in defining the short-term and long-term strategies of companies.
• He will also work closely with other Board Members and chief experience officer (CXOs) on key regulatory and business initiatives.
• BharatPe-Centrum Capital received an in-principal approval from the Reserve Bank of India (RBI) to set up a small finance bank which will take over the Punjab Maharashtra Bank.

Function as chairman of BharatPe

As the chairman of BharatPe, Rajnish Kumar will advise and counsel the management of BharatPe regarding the matters on business performance as well as corporate governance.

Term as Chairman

Rajnish Kumar completed his term as chairman of India’s largest lender SBI in October 2020. Currently, he is working as advisor (resource raising) to the Andhra Pradesh government. He also serves as an independent non-executive director at HSBC Bank, L&T infotech and Asia.

Term as Managing director

Rajnish Kumar has also served as the managing director of National Banking Group, and managing director (Compliance & Risk) of State Bank of India. The senior bank official had also headed the Capital Markets Ltd as managing director and chief executive officer of State Bank of India.

About Rajnish Kumar

He is an Indian banker, holding the position of Chairman of SBI. He became chairman of SBI on October 7, 2017. His three-year term ended on October 6, 2020. He is the Probationary officer of 1980 batch.