On Tuesday, the Centre designated Dinesh Kumar Khara as the new Chairman of State Bank of India (SBI). Khara’s appointment becomes effective from October 7, for a time period of three years.
A notice by the Department of Financial Services stated: “The Central Government, hereby appoints Dinesh Kumar Khara (date of birth: 28.8.1961), Managing Director, SBI as Chairman, State Bank of India for a time period of three years with effect from the date of his taking over charge of the post on or after 7.10.2020, or until further orders, whichever is earlier.”
SBI welcomes Mr. Dinesh Kumar Khara as its new Chairman. We are happy and looking forward to work under his guidance & leadership.#SBI #StateBankOfIndia #SBIChairman #DineshKhara pic.twitter.com/KSUjOViyXr
— State Bank of India (@TheOfficialSBI) October 7, 2020
Before being selected as Chairman of the bank, Khara was the Managing Director (Global Banking and Subsidiaries) of the bank, and in this job, driven and controlled the International Banking Group, Corporate and Treasury tasks of the bank.
The state-run bank stated in a regulatory filing: “As Managing Director (Associates & Subsidiaries), Khara successfully accomplished merging of five Associate Banks and Bharatiya Mahila Bank with SBI.”
Prior he was moreover the MD and CEO of SBI Funds Management Pvt Ltd (SBIMF).
Dinesh Khara, 59, completed his Masters in Business Administration from New Delhi FMS and is a post-graduate in Commerce from Delhi School of Economics. He joined the SBI as a probationary official in 1984 and has more than 36 years of rich expertise with all aspects of banking.
He will supplant incumbent Rajnish Kumar, whose three-year term reaches to an end on October 7.
In August, the Banks Board Bureau had suggested Khara as the following Chairman of India’s biggest public division bank.
Independently, it had suggested the names of Ashwini Kumar Tewari and Swaminathan Janakiraman for the posts of MD in SBI.