The Centre on Tuesday appointed Dinesh Kumar Khara as the new Chairman of State Bank of India (SBI). Khara's appointment to the job comes into effect from October 7, for a period of three years.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"The Central Government, hereby appoints Dinesh Kumar Khara (date of birth: 28.8.1961), Managing Director, State Bank of India as Chairman, State Bank of India for a period of three 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," a notification by the Department of Financial Services said.

Prior to being appointed as SBI Chairman, Khara was the Managing Director (Global Banking & Subsidiaries) of the bank, and in this role, led and steered the International Banking Group, Corporate and Treasury operations of the bank.

"As Managing Director (Associates & Subsidiaries), Khara successfully accomplished merging of five Associate Banks and Bharatiya Mahila Bank with SBI," the state-run bank said in a regulatory filing.

Earlier he was also the MD and CEO of SBI Funds Management Pvt Ltd (SBIMF).

See Zee Business Live TV streaming below:

Khara, 59, did his Masters in Business Administration from FMS New Delhi and is a post-graduate in Commerce from Delhi School of Economics. He joined the SBI as a probationary officer in 1984 and has over 36 years of rich experience in all facets of banking.

He will replace incumbent Rajnish Kumar, whose three-year term comes to an end on October 7.

In August, the Banks Board Bureau had recommended Khara as the next Chairman of India`s largest public sector bank.

Separately, it had recommended the names of Swaminthan Janakiraman and Ashwini Kumar Tewari for the posts of MD in SBI.