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

Key Points

• 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.