Rajnish Kumar

Will Not Sell Any Share In Yes Bank For Next 3 Years, Says SBI Chairman

Business | Indo-Asian News Service | Tuesday March 17, 2020

Rajnish Kumar on Tuesday said that although he cannot talk about other banks, regarding SBI, "not even a single share will be sold in three years".

"Grateful," Says Assam Minister After Row Over Nirmala Sitharaman Tape

India News | Edited by Divyanshu Dutta Roy | Sunday March 15, 2020

Assam Minister Himanta Biswa Sarma has thanked Finance Minister Nirmala Sitharaman for "championing the cause of deprived workers" after an audio clip of her lashing out at State Bank India (SBI) chairman Rajnish Kumar went viral, triggering a major controversy.

Yes Bank Withdrawal Limit Could End "Within A Week": SBI Chairman

Business | Edited by Sandeep Singh (with inputs from agencies) | Monday March 9, 2020

State Bank of India (SBI) chairman Rajnish Kumar told NDTV on Monday that the current cap on withdrawals from Yes Bank accounts could be lifted "within a week". In an exclusive interaction with NDTV, the SBI chairman said: "I want to assure Yes Bank customers that once we (SBI) step in they shouldn't worry about money... The financial system is sou...

Yes Bank Withdrawal Limit Could End "Within A Week": SBI Chairman Rajnish Kumar

Business | Edited by Sandeep Singh (with inputs from agencies) | Monday March 9, 2020

The RBI has taken control of Yes Bank, after the debt-laden lender failed to raise the capital it needs to stay above mandated regulatory requirements.

SBI Sets Rs 10,000 Crore Limit For Yes Bank Investment: Rajnish Kumar

Business | Press Trust of India | Saturday March 7, 2020

The RBI said the strategic investor bank will have to acquire a 49 per cent stake and will not be allowed to reduce the holding to below 26 per cent before three years from the date of capital infusion.

SBI To Get Back To RBI On Yes Bank Bailout Plan By Monday: 10 Points

Business | Edited by Sandeep Singh (with inputs from agencies) | Sunday March 8, 2020

State Bank of India (SBI) chairman Rajnish Kumar said on Saturday that the lender is conducting due diligence on the governments bailout plan for Yes Bank, and will get back to the Reserve Bank of India (RBI) with comments by Monday. "There are many potential investors who have approached us after looking at the draft scheme," he said during a medi...

No Need To Panic On Yes Bank, Says State Bank Chairman

Business | Indo-Asian News Service | Friday March 6, 2020

"What's there to panic, no need to panic, all depositors are safe. The RBI governor has said also, just be patient, everything will be fine," Mr Kumar told reporters.

Government Steadily Moving Towards Less Regressive Tax System: Nirmala Sitharaman

Business | Indo-Asian News Service | Thursday February 27, 2020

The Finance Minister, who was accompanied by Finance Secretary Rajeev Kumar, DEA Secretary Atanu Chakraborty, Revenue Secretary A.B. Pandey and SBI Chairman Rajnish Kumar, said that it was a part of Prime Minister Narendra Modi's reform-mindedness when dealing with businesses.

Banks Will Have To Pay The Price If Any Telco Files For Bankruptcy: SBI Chairman

Business | Press Trust of India | Saturday February 15, 2020

"If there is a negative impact on any enterprise, it impacts a larger ecosystem, whether it is banks, whether it is employees, whether they are vendors, consumers, so everybody gets impacted. So, that impact, when it comes, we will have to pay the price," Mr Kumar said, when asked about the impact on banks if telcos move towards bankruptcy.

There Is A Limit To Lowering Interest Rates: State Bank Of India Chairman

Business | Indo-Asian News Service | Sunday December 22, 2019

"We can't lower the interest rates without lowering the interest rate for depositors and there is a threshold below which we cannot reduce the interest rate for deposits," SBI Chairman Rajnish Kumar said at FICCI's 92nd Annual Convention, titled 'India: Roadmap to a $5 Trillion Economy'.

Essar Steel Resolution To Boost Profitability In December Quarter: SBI Chief

Business | Press Trust of India | Monday December 16, 2019

Essar Steel was auctioned under the Insolvency and Bankruptcy Code to recover Rs 54,547 crore of dues of financial lenders and operational creditors.

State Bank Of India Profit Triples In September Quarter; Shares Surge

Business | Edited by Abhishek Vasudev (with inputs from agencies) | Friday October 25, 2019

State Bank of India, the country's largest lender, on Friday reported a more than three-fold increase in its net profit to Rs 3,012 crore in the quarter ended September 30. Its net profit had stood at Rs 945 crore in the second quarter of financial year 2018-19. The sharp surge in SBI's profit came on account of lower provisioning for bad loans and...

"Sitting On 1 Lakh Crores, But Can't Be Business As Usual": SBI Chairman

India News | Written by Mariyam Alavi | Saturday August 31, 2019

As concerns mount over a cash crunch in the economy, State Bank of India Chairman Rajnish Kumar said he has at least Rs 1 lakh crore to lend for investments. The Chairman of the country's biggest lender was responding to questions on whether banks' reluctance to lend was contributing to the slowdown.

SBI Hopes Credit Growth Of 12-14% In 2019-20

Business | Press Trust of India | Tuesday August 20, 2019

SBI's loan portfolio stands at around Rs 23 lakh crore, Rajnish Kumar said adding the bank has sufficient liquidity to deploy.

Budget: SBI Doesn't Need Any Capital From Government, Says Chairman Rajnish Kumar

Business | Indo-Asian News Service | Thursday June 13, 2019

In March, SBI raised Rs 1,251 crore in bonds to boost its additional Tier 1 capital ratio. Its board has extended the deadline to raise Rs 20,000 crore till March next year.