Banks Board Bureau recommends Dinesh Khara for SBI chairman post

The Banks Board Bureau has recommended name of Dinesh Kumar Khara for post of chairman of State Bank of India. Khara is the managing director looking after portfolio of global banking, associates and subsidiaries.

The government will take final call on appointment of SBI chairman. If selected, Khara would succeed Rajnish Kumar, whose term ends in October.

BBB in a statement said it interfaced with four Managing Directors of SBI on August 28, for the forthcoming vacancy of Chairman.

Keeping in view their performance in the interface and their overall experience, the Bureau recommends Dinesh Kumar Khara for the vacancy of Chairman, BBB said.

The name of C S Setty was recommended as the candidate on the Reserve List for chairman’s post.

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Two other MDs are Arijit Basu, who is slated to retire next month. Other is Ashwani Bhatia, who was appointed to MDs post early this month.

Khara was appointed as managing director of on August 10, 2016 for a three-year term. Later it was extended by two years. He joined SBI as a probationary officer in 1984.

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).

In his career spanning 36 years, he has handled assignments in all facets of Commercial banking such as retail credit, SME/corporate credit, deposit mobilisation, international banking operations, and branch management.

He played a crucial role in the merger of five associate banks and Bhartiya Mahila Bank with SBI. Prior to being appointed as Managing Director Khara was the MD & CEO of SBI Funds Management Pvt Ltd (SBIMF).