Sunday, June 26, 2022

Dinesh Kumar Khara set to be next Chairman of SBI

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New Delhi: Dinesh Kumar Khara is set to be next Chairman of State Bank of India (SBI), India’s largest public sector bank. Khara has been recommended for the top position of SBI by the Banks Board Bureau on August 28. Banks Board Bureau is an autonomous body of the government which is tasked to improve the governance of PSBs, recommend the selection of chiefs of government-owned banks and financial institutions and to help banks in developing strategies and capital raising plans. 

In a statement, Banks Board Bureau said that it has interfaced with four Managing Directors of SBI on August 28, for the forthcoming vacancy of Chairman of SBI. 'Keeping in view their performance in the interface and their overall experience the Bureau has recommended Khara for Chairman of SBI and Challa Sreenivasulu Setty as the candidate on the reserve list for the post,' it added. Khara is currently serving as Managing Director in the same public lender. With his new assignment, Khara will replace Rajnish Kumar, who set to superannuate of October 7 this year.

Also read: Ashwani Bhatia is new Managing Director of SBI

Khara's profile:

Khara did his Masters in Business Administration from FMS New Delhi and is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB). He joined SBI as 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 mobilisation, international banking operations, branch management, etc.

Khara is the Managing Director of GB&S wing of SBI. He holds a board-level position in the bank supervising the businesses of non-banking subsidiaries of the bank. The subsidiaries are engaged in diverse financial activities such as asset management, life insurance, general insurance, custodial services, primary dealership, investment banking, broking, credit cards, pension funds and factoring services. He is entrusted with the role of supervision of 18 Regional Rural Banks (sponsored by SBI) having more than 5,500 branches, serving more than 55 million customers. In addition, he oversees the risk management & compliance areas of the bank and information technology arm of the bank.

State Bank of India (SBI)

State Bank of India (SBI) is a multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is ranked 236th in the Fortune Global 500 list of the world's biggest corporations of 2019. A nationalised bank, it is the largest in India with a 23 percent market share by assets and a 25 percent share of the total loan and deposits market. The current Chairman of the SBI is Rajnish Kumar.

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