Dinesh Kumar Khara appointed as SBI Chairman for three years

The government on Tuesday, i.e. October 6, 2020, appointed Dinesh Kumar Khara as the new Chairman of State Bank of India (SBI) for three years. His appointment is effective from October 7, 2020. Currently, Khara is the Managing Director in-charge of Global Banking & Subsidiaries.

Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 6, 2020.

Finance Ministry in a notification said, the central government appoints Dinesh Kumar Khara as Chairman of the State Bank of India (SBI) for three years with effect from the date of his taking over charge of the post on or after October 7, 2020, or until further orders, whichever is earlier.

Kahara's name was recommended for the post of the Chairman of the bank on August 28, 2020, by the Banks Biard Bureau (BBB) after ruling out an extension to Rajnish Kumar, whose term end on October 6. 2020.

Khara is a seasoned banker who joined SBI as a probationary officer in 1984 is known as a general banking specialist within SBI circles. He carries experience across all verticals of banking like retail credit, deposit mobilisation, SME and corporate credit, international banking operations and branch management.

Khara was appointed as managing director of SBI in August 2016 for a three-year term. He got a two-year extension in 2019 after review of his performance. Before being appointed managing director, he was the MD and CEO of SBI Funds Management Pvt Limited (SBIMF). He was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI effective April 2017. During his stint in overseas expansion wing, he was also associated with the overseas acquisition of Indian Ocean International Bank Mauritius.