Banks Board Bureau recommends Dinesh Khara’s name for SBI chairman post

The Banks Board Bureau has recommended Dinesh Kumar Khara’s name for the post of chairman of State Bank of India (SBI), India’s largest lender. The centre, however, will be deciding the final name on the appointment.

The senior-most Managing Director of SBI, Khara, looks after global banking, associates, and subsidiaries. If his appointment is approved, he will replace Rajnish Kumar, whose term as chairman comes to an end on October 7.

Banks Board Bureau, the institution set-up to suggest names for top-level positions in state-owned banks and financial institutions, said in a statement that it interviewed the four managing directors of SBI on Friday.

“Keeping in view their performance in the interface and their overall experience, the Bureau recommends Dinesh Kumar Khara for the vacancy of chairman,” it said.

Further, the Bureau recommended the name of Challa Sreenivasulu Setty as the candidate on the reserve list for the post.

The two other Managing Directors were Arijit Basu, who is likely to retire next month, and Ashwani Bhatia, who was appointed Managing Director early this month.

According to the convention, SBI’s chairman will be appointed within the serving managing directors at the bank.

Khara was named the managing director on August 10, 2016, for a period of term. Later, his term was extended by two more years. He joined SBI as a probationary officer in 1984. He holds Masters Degree in Business Administration from FMS, New Delhi, and is a postgraduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB).

In holds 36 years of experience and handled assignments in all sections of commercial banking, such as retail credit, SME/corporate credit, deposit mobilisation, international banking operations, and branch management.

He played an important role in merging five associate banks and Bhartiya Mahila Bank with SBI.

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