Rajnish Kumar joins BharatPe as Chairman

Highlights:

• Former chief of State Bank of India, Rajnish Kumar, has joined the Board of BharatPe as chairman.
• 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.
• As the chairman of BharatPe, Rajnish Kumar will advice and counsel the management of BharatPe regarding the matters on business performance as well as corporate governance.
• 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.
• 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.

• 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.