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News on Medial
Former SBI Chief Rajnish Kumar appointed Chairman of Mastercard India
Livemint
·
1y ago
Medial
Former State Bank of India (SBI) chairman Rajnish Kumar has joined Mastercard as a senior advisor to its South Asia leadership team. Kumar, who led SBI for three years until October 2020, will provide guidance on navigating India's domestic payments landscape. He brings nearly four decades of experience in banking and played a pivotal role in spearheading the YONO platform during his time at SBI. Mastercard offers payment transaction processing and related services globally.
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BYJU’S forms advisory council, appoints Mohandas Pai and Rajnish Kumar
Business Today
·
2y ago
Medial
Edtech major BYJU’S has formed a new advisory council. It has appointed former Infosys chief financial officer TV Mohandas Pai and former State Bank of India chairman Rajnish Kumar as its council members. The council will play an important role in mentoring and advising the BYJU’S team including CEO Byju Raveendran, a statement from the company revealed.
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Ashneer Grover hits out at former SBI Chairman Rajnish Kumar
Livemint
·
1y ago
Medial
Former BharatPe co-founder and managing director, Ashneer Grover, criticized former SBI Chairman, Rajnish Kumar, accusing him of delivering nothing and hiding behind deflection. Grover referred to the alleged failure of Kumar at SBI, resulting in $8 billion value destruction, and claimed he led BharatPe to a $3 billion write-off. The public dispute between Grover and CapitalMind CEO Deepak Shenoy followed reports of an investigation into Grover for alleged fund diversion.
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Byju’s was in need of an experienced guide: ex-SBI chief Kumar
Livemint
·
1y ago
Medial
Former State Bank of India chairman Rajnish Kumar, who advises edtech firm Byju's, shared insights on the company's priorities and the need to address governance issues. He emphasized the importance of reducing cash burn, settling the term loan, and focusing on growth. Kumar also discussed his advice for ambitious young entrepreneurs, highlighting the significance of transparency, integrity, and experienced guidance. Regarding BharatPe, a fintech company where Kumar serves as chairman, he mentioned that governance and compliance issues have been addressed, and the focus is now on profitability. Kumar also commented on the undervaluation of SBI and the challenges banks face in raising current account and savings account (Casa) deposits.
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Delhi HC orders Ashneer Grover to delete post calling SBI Chairman 'petty people'
IndianStartupNews
·
1y ago
Medial
The Delhi High Court has instructed Ashneer Grover, the former managing director of BharatPe, to remove posts on social media targeting BharatPe and Rajnish Kumar, the former chairman of State Bank of India (SBI), within 48 hours. Grover's posts, referring to Kumar and the company as "petty people," were deemed damaging to BharatPe's reputation. The ongoing legal battle between BharatPe and Grover involves defamation suits and criminal complaints. Amidst the legal strife, BharatPe reported a widened net loss, while the court also ordered The Economic Times to take down an article detailing Grover's allegations.
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Ashneer Grover urges RBI to probe ex-SBI Chairman Rajnish Kumar, says, 'He was complicit in fraud transactions'
IndianStartupNews
·
1y ago
Medial
Former BharatPe managing director Ashneer Grover has accused ex-SBI Chairman Rajnish Kumar, currently BharatPe's board chairman, of allocating equity shares worth hundreds of crores to himself. Grover alleges that this is part of a larger issue involving fraudulent transactions and misrepresentations to the Reserve Bank of India (RBI). He has called for an investigation into the matter. BharatPe has dismissed the claims as baseless and is pursuing legal action against Grover. The Ministry of Corporate Affairs and other authorities are already investigating BharatPe.
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Oyo may back out of IPO plan, opt for private raise
Economic Times
·
1y ago
Medial
Oyo Hotels & Homes is reportedly considering withdrawing its draft application for an IPO of over $1 billion from the Securities and Exchange Board of India (SEBI). The hospitality startup is said to be in discussions with private market investors to raise new funding instead. Oyo's first IPO filing was returned and required additional updates and revisions. The company has yet to confirm the withdrawal plans. Former SBI chairman Rajnish Kumar has also reportedly left his position as group strategic advisor at Oyo.
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Business Today announces distinguished jury for the 1st Edition of BT India’s Most Sustainable Companies
Business Today
·
2m ago
Medial
Business Today is hosting the inaugural BT India’s Most Sustainable Companies summit and awards on June 6, 2025, in New Delhi. The event aims to honor companies excelling in corporate sustainability and stimulating discussions on aligning business with environmental and social goals. The jury is chaired by Rajnish Kumar, former State Bank of India Chairman, and includes distinguished members from various prominent organizations. The chief guest is Shri Bhupender Yadav, Union Environment Minister.
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Ashneer Grover Urges RBI To Probe BharatPe Chairman Rajnish Kumar
Inc42
·
1y ago
Medial
Former managing director of BharatPe, Ashneer Grover, has written a letter to the Reserve Bank of India (RBI), calling for an investigation into chairman Rajnish Kumar. Grover alleges that Kumar acquired significant equity shares worth hundreds of crores since joining the board and increased his salary to INR 1.5 crore per year. Grover also accused the board, investors, and management of fraud and lying to the RBI about the ownership of the company's shares. BharatPe denies the allegations and has stated their intention to take legal action against Grover.
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Delhi HC Directs Ashneer Grover To Take Down Tweets Against BharatPe, Former SBI Chairman
Inc42
·
1y ago
Medial
BharatPe co-founder Ashneer Grover has been directed by the Delhi High Court to remove his tweet against the company and former State Bank of India chairman Rajnish Kumar within 48 hours. Grover had made posts on social media platform X against BharatPe and alluding to Kumar, calling them "petty people." The court observed that Grover's tweet was an innuendo and remarked that he cannot damage the company's reputation. This development comes after Grover reportedly wrote a letter to the Reserve Bank of India urging for a probe into Kumar's alleged equity shares worth hundreds of crores.
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Manoj Kumar Jhawar takes additional charge as Mishra ceases to be PTC CMD
Livemint
·
1y ago
Medial
The board of PTC India Ltd has appointed Manoj Kumar Jhawar as the chairman and managing director of the company until a regular CMD is appointed. This decision comes after Rajib Kumar Mishra was barred by market regulator Sebi from holding any position on the board or management of any listed company for six months due to alleged corporate misgovernance. Sebi also penalized Mishra and another former executive of PTC India Financial Services (PFS). The investigation found that the former MD of PFS had misused his position to prevent the appointment of a key executive approved by the board.
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