The central government has agreed to appoint Rajnish Kumar as the next head of State Bank of India, the biggest bank in the country. He will assume the office starting next week. In the position, Rajnish Kumar will be replacing Arundhati Bhattacharya, whose tenure is about to get over this week. Rajnish Kumar will have a 3-year term as the Chairman and Managing Director of SBI.
Rajnish Kumar has had a long association with State Bank of India. After joining the bank as a probationary officer in 1980, he has worked in various departments. Currently, he is holding the position of managing director of the bank. The bank bureau had interviewed all the four managing directors of the bank before finalising the name of Rajnish Kumar.
Arundhati Bhattacharya was appointed to the top post in October 2013. Her tenure was to get over last year, however, she was given an extension of a year to oversee the ongoing process of the merger of five associate banks with SBI. Now that the merger process is over, Arundhati Bhattacharya will be leaving the position at the end of the ongoing week.