The government on Tuesday appointed senior banker Dinesh Kumar Khara as the new chairman of State Bank of India. He will hold the post for three years. Khara replaces Rajnish Kumar, who is stepping down after being at the helm for three years.
Currently, Khara is the Managing Director in-charge of Global Banking & Subsidiaries.
A notification issued by the Finance Ministry said, “The central government appoints Dinesh Kumar Khara as chairman of State Bank of India (SBI) for a period of 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.”
Mr. 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. He was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI effective April 2017.
Dinesh Kumar Khara’s journey to the top is inspirational. He joined SBI as a probationary officer in 1984. Since then has over 33 years of experience in retail credit, SME/corporate credit, deposit mobilization, international banking operations, and branch management.
The 59-year-old banker did his Masters in Business Administration from Faculty of Management Studies, Delhi University. He is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB).
The new SBI chairman will have a tough task ahead as the banking industry is facing an unprecedented challenge due to the COVID-19 pandemic.
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