Former SBI chief appointed AP's economic advisor
In what is presumed as an attempt to overcome deteriorating financial position, the Andhra Pradesh Government has appointed former Chairman of State Bank of India Rajnish Kumar as its economic advisor with a Cabinet rank for two years.
image for illustrative purpose
Visakhapatnam: IN what is presumed as an attempt to overcome deteriorating financial position, the Andhra Pradesh Government has appointed former Chairman of State Bank of India Rajnish Kumar as its economic advisor with a Cabinet rank for two years.
The government headed by Chief Minister YS Jagan Mohan Reddy is under attack by the opposition parties in the State including Bharatiya Janata Party for pushing the State to a debt trap due to a series of populist schemes and what they termed 'ill-conceived' policies.
The veteran banker, credited with his expertise in NPA management and digital transformation, had retired from the premier public sector bank on October 6, 2020. He was appointed as SBI Chairman on October 7, 2017.
He had served as Managing Director of National Banking Group and MD (Compliance & Risks) of SBI. Presently, he is serving as non-executive director in HSBC and in an advisory role on Kotak's Special Situation Fund. Kumar, also considered a fintech expert, is expected to guide the State in improving its financial health mainly after witnessing drastic fall in revenue due to the pandemic and suggest measures to attract investments in various fields.
