Rajnish Kumar News

Former SBI Chairman Rajnish Kumar now earns a remuneration three times higher than his previous salary at India’s largest lender. Currently serving as Chairman of the Board at Indian fintech company BharatPe, Kumar also holds board positions at Hero MotoCorp, LTIMindtree, Ambuja Cements, Brookfield India Real Estate Trust, and Larsen & Toubro. His total remuneration from three of these firms in fiscal 2023 amounted to Rs 89 lakh.  

Khara's compensation increased by at least 13.45% in the FY 2021-22. There is a huge pay gap between the packages offered by state-owned and private firms. Former HDFC Bank CEO Aditya Puri earned Rs 13.82 crore in his retirement year.

Grover had quit BharatPe saying he was being forced to bid adieu the company he founded. BharatPe had alleged that Grover and his family were engaged in extensive misappropriation of company funds.

SBI last year merged with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, catapulting it to be among top 50 global lenders.

Bad loans in PSBs have nearly doubled in the past four years as an economic slowdown took its toll on the ability of companies to repay debt.

Rajnish Kumar said SBI had tackled issues that came as a result of that deal and asset quality numbers would "look much better than in the past". 

He will succeed Arundhati Bhattacharya, who is at present serving her one-year extension, that ends on Friday.

Country`s largest lender State Bank of India (SBI) hopes to achieve a 12 percent credit growth for financing Small and Medium Enterprises (SMEs) in the current fiscal, a bank official said on Friday.

 Country's largest lender State Bank of India (SBI), which saw a drop in bad loans in the July-September quarter, has stepped up efforts to bring down NPAs further to the last financial year's level.

Country's largest lender State Bank of India Tuesday said the government has appointed Rajnish Kumar as the Managing Director - Compliance and Risk department.