Rajnish Kumar - The Custodian of Trust: A Bankers Memoir

Rajnish Kumar has had a stellar career as Indias banker, which is why his autobiography makes for both insightful and exciting reading. Through his work one gets a ringside glimpse of the challenges that the Indian banking system constantly faces and how it rises to surmount them.

As Chairman, State Bank of India, he was responsible for some of the most critical financial developments that contributed extensively towards making India what it is today.

This is a book that is not just about the banking system of our country, but a chronicle of contemporary economic history.

Ratan N. Tata, Chairman, Tata Trusts; Chairman Emeritus, Tata Sons

I congratulate Shri Rajnish Kumar for penning an illuminating and engrossing memoir of his long and illustrious career at the State Bank of India, an institution where he started as a probationary officer and rose to become the chairman.

The book gives a rare insight into the inner workings of the oldest and most prestigious bank in our country, and what it takes to preserve and uphold the one thing that matters the most in the business of banking: Trust.

His roadmapbased on some tumultuous episodes in the interaction between the corporate and banking sectors in Indiafor restoring the confidence of bankers, both public and private, could serve as a blueprint for charting Indias rapid growth and also for facilitating the full blossoming of our entrepreneurial class.

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Ltd

As India works its way towards finding its rightful place as one of the largest economies in the world, we are also witnessing wide-scale changes and transformation in the countrys financial sector: the failing corporates and the faltering banks, structural reforms by the government, opening up new growth possibilities; and finally, the pandemic, posing immense challenges and yet opening up new opportunities. Rajnish Kumar, who chaired the nations largest bank, the State Bank of India, in this book titled The Custodian of Trust, gives us a ring-side view of this rather turbulent phase. Rajnish blends his inimitable simplicity with his deep understanding and knowledge of the financial sector to pen a gripping account of his travails at SBI, and how the Bank is navigating challenges to play an important role in Indias growth story. This book captures Rajnish Kumars inspirational journey from a small town in India to the Chairmanship of a venerable financial institution. I am sure each one of us, be it a student, an entrepreneur or a business leader, can learn from the experiences shared by one of the doyens of the financial sector in this book.

Sanjiv Mehta, Chairman and Managing Director, Hindustan Unilever Limited; President, Unilever South Asia

Rajnish Kumar ran Indias largest bank at one of the most turbulent times in the Indian financial sector. His book reflects his personality. Down-to-earth, sleeves-rolled-up, real-world banker at the scene of action when a lot happened.

He was open to out of the box thinking and execution. The book captures his candour. I read with interest his chapter on Trouble in the Corridors of Money and can relate to the many challenges we in the financial sector faced. He has captured the SBIs transition to new-age digital banking with YONO. Rajnishs book is a refreshing narration of stories from our sector, many of which have the potential to be a Bollywood blockbuster.

Uday Kotak, CEO, Kotak Mahindra Bank

The SBI enjoys the trust of all Indians as Indias leading bank with a history of over 200 years. As the Chairman of SBI during a particularly critical period in Indias economic and political history, Rajnish Kumar provided the leadership to face many a crisis with great distinction. His memoir make for a fascinating reading and gives an insiders view of many momentous events. A must read for all.

T.V. Mohandas Pai, Chairman, Aarin Capital Partners

Rajnish Kumar led the banking behemoth SBI through its more difficult period with a quiet fortitude and unmatched personal confidence. This book gives a fascinating glimpse into the building blocks that went into the making of the man from his humble beginnings in Meerut to a seasoned banker who took the bank to new heights and laid a firm foundation for its continued sustenance. A must-read for anyone who wants to understand how the Indian financial system works.

Harsh Goenka, Chairman, RPG Enterprises

Rajnish Kumar is a no-frill banker. He calls a spade a spade and believes execution is as important as vision for running a bank. This book, from cover to cover, bears testimony to his philosophy as a finance professional. Whether the success of the YES Bank rescue act, led by the State Bank of India, or the failure of the banking system in reviving Jet Airways promptly, Kumar has written the behind-the-scenes stories dispassionately. He is a good raconteur. The book also offers insights into what it takes to be a leader to run Indias biggest and one among the worlds 50 largest banks by assets, representing little less than one-fourth of the nations GDP.

Tamal Bandyopadhyay, bestselling author and award-winning columnist

In loving memory of Aakanksha Agarwal (19852005)