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Corporate credit growth is limited but credit is growing well on the consumer front, SBI's Chairman-designate, Rajnish Kumar, said in a conference call on Thursday. He will take over from current Chairman Arundhati Bhattacharya, who will complete her four-year term on Friday.
Kumar, 59, is at present one of the four managing directors at SBI, looking after the National Banking Group — which covers the retail, SME and agriculture business verticals. He had joined the lender in 1980. The Appointments Committee of the Cabinet approved his appointment as the SBI chairman for a period of three years from the date of taking over the charge on or after October 7, an order issued by the Department of Personnel and Training (DoPT) said.