MDI Board Names Rajnish Kumar As Its New Chairman

Kumar completed his three-year term as Chairman of SBI in October 2020.


Management Development Institute Society on Monday announced the appointment of former Chairman of State Bank of India (SBI) Rajnish Kumar as the new Chairman of the Board of Governors.

Kumar was a Member of the Board of Governors of MDI from March 1, 2019 and succeeds Interim Chairman T.V. Mohandas Pai with effect from Monday, 8th August 2022.

Kumar completed his three-year term as Chairman of SBI in October 2020.  He is credited with steering the bank successfully through very challenging times. During his tenure, the Bank developed YONO, a digital platform. It established SBI as a global leader in adoption of technology and innovation.

Kumar is a career banker with nearly four decades of service with SBI. His expertise in corporate credit and project finance is well recognized. He served the Bank in various capacities across the country including in the Northeast as Chief General Manager. He successfully managed UK operations of the Bank immediately after the crisis caused by the collapse of Lehman Brothers. Earlier, he worked as Vice President (Credit) at Toronto.

Rajnish Kumar was also the Chairman of SBI’s subsidiaries, the important ones being SBI Life Insurance Company Limited, SBI Foundation, SBI Capital Markets Limited, and SBI Cards & Payments Services Limited. He also served as Director on the boards of various organisations, viz. Export- Import Bank of India, Institute of Banking Personnel Selection, National Institute of Bank Management, Pune, Indian Banks’ Association, Khadi & Village Industries Commission, Indian Institute of Banking & Finance, among others. 

Rajnish Kumar is currently serving as an Independent Director on the Boards of many prestigious companies like HSBC, Asia Pacific, and L&T Infotech. He is also Non-Executive Chairman of Resilient Innovations P Ltd. (BharatPe), one of the fastest growing fintech companies in the country and Independent Director on the Board of Lighthouse Communities Foundation. Kumar is also an advisor to Kotak Investment Advisors Ltd. and Baring Private Equity Asia Ltd. 

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