Dinesh Kumar Khara, managing director at State Bank of India (SBI), takes over as SBI’s chairman effective today. The Government on Tuesday appointed Dinesh Kumar Khara as chairman of the bank for three years effective from October 7. He has replaced SBI chairman Rajnish Kumar, whose three-year term comes to an end on October 7. Khara’s appointment comes at at time when the banking industry, along with other sectors is going through a major crisis due to the coronavirus pandemic.
“Dinesh Kumar Khara, appointed as chairman of the bank for a period of 3 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,” according to a notification issued by the Finance Ministry.
Five things to know about SBI’s new chairman Dinesh Kumar Khara:
1) On August 28, Bank Board Bureau had recommended the appointment of Dinesh Kumar Khara to the post of chairman of SBI.
2) 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.
3) Khare was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI effective April 2017.
4) Dinesh Kumar Khara joined SBI as a probationary officer in 1984 and has over 33 years of experience in all facets of commercial banking such as retail credit, SME/corporate credit, deposit mobilization, international banking operations and branch management.
5) The 59-year-old banker did his Masters in Business Administration from Faculty of Management Studies, Delhi University and is a post-graduate in Commerce.