Rajnish Kumar was appointed as chairman of the largest public sector bank, the State Bank of India (SBI), replacing Arundhati Bhattacharya, who completes her one-year extended term.
The Appointments Committee of the Cabinet approved Mr. Kumar’s appointment for three years from the date of taking charge on or after October 7. Mr. Kumar, aged 59, joined the SBI board on May 26, 2015.
Ms. Bhattacharya became the first woman chairperson of the SBI in 2013. She was given a year’s extension in October last to ensure continuity, as the SBI was then in the process of absorbing five associate banks.