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SBI is future-ready and in Dinesh Khara's safe hands: Rajnish Kumar

Kumar's last day in office was on October 6. He had been in the bank as chairman for three years and served it in various capacities for almost 40 years

SBI Chairman Rajnish Kumar
Kumar said his vision for SBI was to transform it into a strong bank with a niche digital face, and at the top of the game in digital.

Former State Bank of India (SBI) chairman Rajnish Kumar said in his farewell message that he had made the bank ‘future-ready’ and that the lender is in safe hands with Dinesh Khara as the new chairman. 

Kumar’s last day in office was on October 6. He had been in the bank as chairman for three years and in total served the bank in various capacities for almost 40 years. 

“I am happy that I am leaving the bank ‘future-ready’ for the next Chairman--Mr Dinesh Khara--to take it further ahead. Future is all about possibilities and I believe that the best is yet to come. I wish all the best for his new assignment. I can say with no hesitation that I am leaving SBI in safe hands,” Kumar said in his farewell message to SBI employees. 

The unprecedented crisis of 2020 could not deter SBI as the bank was ready beforehand, with its digital transformation, and in full readiness. Kumar thanked his employees for providing uninterrupted banking services to the country without fear, and paid his homage to those who lost their lives due to the pandemic while fulfilling their duties. 

Kumar said his vision for SBI was to transform it into a strong bank with a niche digital face, and at the top of the game in digital.

“Working on the four pillars; viz. corporate credit revamp, deep business focus, taking the digital leap and putting in place a greatly enhanced compliance culture, I believe that SBI is today on the threshold of a new dawn,” Kumar said, adding the bank’s perception has changed “all around and all over the country.”
Among his achievements, Kumar said the move from ‘Risk Advisory’ to ‘Risk Clearance’ as a lending philosophy for corporate credit has been a “path breaker.” The bank is now more customer driven, and strive to serve customers with a smile, Kumar said. And with this, the balance sheet of the bank has grown stronger, while systems, structures, controls or processes have been made robust. 

“As for our leap into the digital, YONO- our flagship digital banking and lifestyle platform- has been a game-changer in the industry. We rolled out cutting edge products and services and emerged as a leader in the digital space. With more than 30 million accounts, YONO is the world’s largest digital bank on the palm. It is the first of its own kind in the whole world,” Kumar said, adding millennials have accepted the product.

SBI staffers are no longer “inward looking” in their approach. Instead, the lender is now “far more strategic, far more candid, far more inclusive and far more values-embedded an organisation today,” making the bank a sound, collaborative, steadfast and robust yet resilient an organisation today, Kumar said.