The Central Government has appointed Dinesh Kumar Khara, 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 07.10.2020, or until further orders, whichever is earlier. 

Separately, the Banks Board Bureau (BBB) has recommended the appointment of Swaminthan Janakiraman and Ashwini Kumar Tewari as managing directors of SBI.

Deputy MD Janakiraman and Tiwari, who is the SBI Cards CEO, will replace Khara and Arijit Basu, who is due to retire at the end of the month.

Prior to being appointed as Chairman of the Bank he was Managing Director (Global Banking & Subsidiaries) of the Bank. In his role as MD (GB&S) he leads and steered the International Banking Group, Corporate and Treasury operations of the Bank. He has been able to guide and lead the subsidiaries wing of SBI thus ensuring successful pathway for the Non-Banking Subsidiaries of the Bank viz. SBI Mutual Fund, SBI Life Insurance, SBI Credit Card.

As Managing Director (Associates & Subsidiaries), Khara successfully accomplished merging of five Associate Banks and Bharatiya Mahila Bank with SBI. Additionally, he was also in charge of Risk, IT & Compliance functions of the Bank. Prior to being appointed as Managing Director of State Bank of India, Khara was the MD & CEO of SBI Funds Management Pvt. Limited (SBIMF).

Dinesh Kumar Khara did his Masters in Business Administration from FMS. New Delhi and is a post-graduate in Commerce from Delhi School of Economics.

Image source- BloombergQuint