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In today’s episode of Figuring Out, our guest is loyalty personified. Mr. Rajnish Kumar has served as the Ex Chairman of SBI and is currently the chairman of Bharatpe and on the advisory board for several big companies. He has been with SBI for nearly 4 decades and discusses the changing dynamics of loyalty in the corporate world. Our guest shares valuable insights from his tenure at SBI, shedding light on the reasons behind diminishing loyalty and the factors influencing it.
The conversation shifts to the challenges faced by banks during the period of demonetization. With first-hand experience as the MD of SBI during that time, he shares stories of the crowded banks and reveals whether the banks were aware of the decision beforehand. Find out how SBI tackled the situation and their commitment to serving a staggering 48 crore customers today. They dissect the true purpose behind the move of demonetisation and the impact of 2000 and 500 rupee notes on the economy.
As the podcast progresses, they explore the airline industry and the challenges it faces. With insights from the guest's extensive experience, they discuss the importance of knowing when to detach and gracefully close down a business when necessary.
Learn about our guest's decision to join BharatPe after retirement and his support for fintech ventures. He shares the reasons behind his choices and addresses the comments and criticism he has faced. The podcast delves into the financial aspects of leadership roles, discussing the salary of an SBI Chairman and the post-retirement compensation. Make sure you watch this podcast till the end!
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00:00 - Introduction
2:21 - How to build a team?
3:15 - Amazon’s 2 pizza rule
4:50 - Loyalty factor in employees
8:00 - BTS of Demonetisation in India
11:20 - Why does SBI always have long queues?
17:03 - Did banks already know about demonetisation?
20:52 - Reason behind demonetisation
21:26 - Salary of an SBI chairman
26:27 - Compensation for a retired chairman in the market
27:28 - Salary of a board member
28:40 - Jet Airways fiasco
31:33 - Is the Airline industry cursed?
34:44 - Are banks villains?
37:08 - Mallya’s case: Personal liability Vs Company’s liability
40:18 - Why did he join BharatPe?
42:35 - What went wrong at BharatPe?
43:22 - Does Ashneer’s comments bother him?
47:31 - Why is BharatPe’s social media commenting turned off?
48:10 - Why did the CEO of BharatPe quit?
49:03 - Does his stature get affected?
51:46 - Insides of BharatPe
56:11 - Advice for young founders
58:19 - Conclusion