Kumar, who retired from the country's largest lender after four decades of service in October last year, was previously appointed as senior advisor by Baring Private Equity Asia and an advisor to Kotak Investment Advisors.
The country's largest lender State Bank of India is actively looking to hive off its digital platform Yono into a separate subsidiary, its chairman Rajnish Kumar said.
State Bank of India chairman Rajnish Kumar on Tuesday said that interest rate cuts had not led to an increase in investment, despite the banks passing on the rate cuts to the customers.
State Bank of India Chairman Rajnish Kumar on Wednesday said banks and financial institutions need to make enough investment in technology upgradation for survival in this era of digital banking. Observing that the country has made rapid strides as far as adoption of digital technology is concerned, Kumar said as a result, India has the maximum number of mobile and internet banking users in the world.
Speaking at the 65th Annual General Meeting (AGM), Chairman Rajnish Kumar said: "The focus while going forward will be on cost reduction, rationalisation, and reskilling of workforce, improving staff productivity, and redeployment of workforce from admin offices to sales roles."
Terming the relief package as timely intervention, SBI Chairman Rajnish Kumar on Thursday said more calibrated responses in the coming weeks expected as the impact of pandemic COVID-19 unfolds.
State Bank chairman Rajnish Kumar on Tuesday said the country's largest lender that owns close to 43 per cent in Yes Bank now will not sell a single share before that mandated three-year lock-in period, and that he's, in fact, keen to approach the board for hiking the holding to 49 per cent.
SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank.
Rajnish Kumar, SBI Chairman: Plan has been received by SBI and the legal team is working on the plan.
SBI Chairman Rajnish Kumar on Friday arrived in Parliament to meet Finance Minister Nirmala Sitharaman to discuss the Yes Bank issue.
With the telecom firms staring at a massive Rs 1.47 lakh crore of AGR dues, SBI chairman Rajnish Kumar on Monday said "nobody wants to kill the sector". The state-owned bank is yet to hear from the government on the issue, he said, when asked if it has sought views from bankers.
SBI Chief Rajnish Kumar on February 15 reacted on telecom companies' Adjusted Gross Revenue (AGR) dues.
SBI Cards IPO: The State Bank of India (SBI) Chairman Rajnish Kumar has made a big announcement regarding the much-awaited initial public offer (IPO) of SBI Cards and Payment Services.
The interim budget presented in February did not provide any allocation for recapitalisation. In February this year and in the last fiscal, the government approved and later infused Rs 48,239 crore recapitalisation plan for 12 public sector banks (PSBs), including the fraud-hit Punjab National Bank (PNB), to help them avoid and come out of the prompt corrective action (PCA) framework.
SBI Chief Rajnish Kumar described the move as a re-affirmation of how the world views India, which has been long pending and a thumbs up to the various reform measures.
State Ban of India has an exposure of Rs 26,636 crore to 27 of about 30 such accounts listed by the Reserve Bank of India (RBI).
Wilful defaulters or people who have diverted funds, as proved in the forensic audit, will not be allowed to participate in bidding for stressed companies, the SBI chairman said.
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