Former SBI chief appointed exclusive advisor to Kotak Groups $1 billion stressed assets fund
NEW DELHI: Former SBI chairman Rajnish Kumar was on Friday appointed as the exclusive advisor to a USD 1 billion-stressed assets fund floated by the Kotak Mahindra Bank group. Kumar retired as the chairman of the country”s largest lender in October last year after an over four-decade career. Earlier this week, there were reports of […]
SBI chief slams ‘selfish’ private sector bank for Altico crisis
NEW DELHI: State Bank of India (SBI) chairman Rajnish Kumar has slammed a “selfish” private sector lender for the crisis at Altico Capital, as its unilateral move to secure its own money can potentially cause troubles to the wider financial system. The realty-focused non-banking lender Altico, which owes over Rs 4,500 crore to the system […]
IBC Section 29A needs more clarity: SBI
MUMBAI: State Bank of India (SBI) chairman Rajnish Kumar said Section 29A of Insolvency and Bankruptcy Code (IBC), which disallows defaulting promoters and related persons from bidding for assets, is being “stretched too far”. Speaking at an event in Mumbai, he said most of the litigation at present are due to Section 29A. “But this […]