How much does SBI chief Rajnish Kumar get paid? Find out here

State Bank of India (SBI), in its annual report 2017-18 released on Monday, mentioned that Rajnish Kumar, the Chairman and Managing Director of the bank drew a gross salary of Rs 14,25,594.10 by March 31, 2018. Kumar was elevated to the post on October 7, 2017. 

SBI's former chairperson, Arundhati Bhattacharya, took home a gross salary of Rs 14,69,975.81. She retired from the post on October 6, 2017.

Among four managing directors - B Sriram, Rajnish Kumar (upto 06.10.2017), P K Gupta and Dinesh Kumar Khara - Sriram received highest salary worth Rs 27,74,077. 

SBI believes the coming years will be very challenging for banks which will have to look beyond the bad loan resolution and address pressing issues such as frauds, cyber security and governance

As bad loans mar the profitibility of public sector banks (PSBs), the country's largest bank believes with capital infusion in PSBs, it will be up to them how they grab the opportunity and deploy technology to address some of these pressing issues.

As on March 31, 2018, the gross NPAs of SBI increased to Rs 2,23,427 crore (10.91 per cent of the gross advances), from Rs 1,77,866 crore (9.11 per cent) by end-March 2017.

The net NPAs or bad loans grew to Rs 1,10,855 crore (5.73 per cent) from Rs 96,978 crore (5.19 per cent).

The largest lender of the country suffered a net loss of Rs 6,547.45 crore in 2017-18, as against a net profit of Rs 10,484.1 crore in the preceding fiscal.

"The year 2017-18 was a difficult year as far as net profits are concerned. The main contributing factors being increase in loan loss provisions, mark to market losses on government securities and provisions and payments to employees," Chairman Rajnish Kumar said in the annual report.

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The banking environment remained eventful in 2017-18 as asset quality, resolution of stressed assets and muted credit growth in fist half continued as major challenges for most banks.

"Higher NPAs impacted interest income adversely and led to elevated provisions, thus putting pressure on the profitability of banks. Further, some PSBs have been put under the Prompt Corrective Action (PCA) framework of RBI, which puts restrictions on key areas viz. Dividend payment, branch expansion..," the report said.

SBI noted a lot of retirements are lined up for the next five years. It is important to put in place a robust plan of succession, it said.

"Potential leaders will be identified and mentored through customised training programmes to create a strong leadership pipeline. Some of these works are already in progress and concrete action plan will be implemented in the next two years," the bank said in the report.