Dinesh Kumar Khara who joined SBI in 1984 as a Probationary Officer will replace Rajnish Kumar as the new Chairman of State Bank of India. The three-year term of Rajnish Kumar comes to an end on October 7. Talking about Khara’s capabilities, he was remarkable in merging Bhartiya Mahila Bank and five associate banks with SBI effective April 2017.
SBI, the country’s largest lender, is led by a chairman with four managing directors to assist. On Tuesday, the government appointed Dinesh Kumar Khara as Chairman of State Bank of India for three years effective from October 7. Interestingly, in 2017 also, Khara was among the candidates for the chairman’s post.
In August 2016, he was appointed as managing director of SBI for a three-year term. In 2019, he go a two-year extension after review of his performance.
Khara is a former student of the Faculty of Management Studies, Delhi University. Khara heads the Global Banking division of SBI. Apart from this, he also holds a board-level position and oversees the businesses of SBI’s non-banking subsidiaries.
He was the MD and CEO of SBI Funds Management Pvt Limited (SBIMF) before being appointed as managing director. As the banking sector is going through a major crisis due to the COVID-19 pandemic, SBI chairman will have a tough task ahead.
As of June 30, the bank has made total provisions of ₹3,000 crore to cover possible losses due to COVID-19. On Friday, the Banks Board Bureau (BBB) had suggested the name of Dinesh Kumar Khara, SBI’s senior-most managing director, as the next chairman of the Country’s largest lender.