In a major development in Andhra Pradesh, the YS Jagan Mohan Reddy Government has inducted Rajnish Kumar, former SBI Chief as an advisor to the Andhra Government. Rajnish Kumar’s appointment is expected to help the state government steer through the financially tough juncture.
The appointment comes amid the mounting concerns over the state’s financial situation which has been badly hit by the Covid pandemic, even as the opposition has been critical over the sops and freebies being distributed by the Y.S.Jagan Mohan Reddy-led state government.
Rajnish Kumar who had retired as SBI chairman in October 2006, is an independent non-executive director at the Hong Kong and Shanghai Banking Corporation. Post his retirement, the ace banker had taken up several assignments, including non-executive director at HSBC and advisor to Kotak’s Funds.