Rajnish Kumar to succeed Arundhati Bhattacharya as SBI chairman

Arundhati Bhattacharya

- Arundhati Bhattacharya is due to step down on October 6 as chairwoman of State Bank of India, the country's largest lender by assets. Rajnish will replace Arundhati Bhattacharya this week.

Last year, the government had extended Ms Bhattacharya's tenure for a year.

The term of the of the former chairman was coming to an end this week and Kumar was named as a "front runner" to be the next chairman.

The Centre has appointed Rajnish Kumar to head State Bank of India, the country's biggest bank. Bombay Stock Exchange has sought clarification from the bank on the same.

Kumar had joined the SBI in 1980 as a probationary officer and subsequently served in multiple departments.

Rajnish Kumar has been appointed as the next chairman of State Bank of India, PTI reported on Wednesday. Before that he was managing director and CEO of merchant banking arm SBI Capital Markets, the ET report said.

The Banks Board Bureau had singled out four top contenders from among the managing directors.

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