Mumbai: Dinesh Kumar Khara is the new Chairman at State Bank of India for a period of three years.
Khara will be replacing Rajnish Kumar who served as the bank's Chairman and Managing Director. On Tuesday, the Finance Ministry announced Khara's appointment for a period of three years starting from 7th October 2020 after Kumar's term came to an end.
Mr. Khara holds a Masters in Business Administration and is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB).
Prior to the new role, Khara served the bank as Managing Director for the Global Banking & Subsidiaries department.
Khara joined State Bank in 1984 as a probationary officer and has held several key positions.
As Chief General Manager - Bhopal Circle, Mr. Khara managed around 1400 branches and handled deposits and advances portfolio of over Rs 1.5 lakh crores.
He also had a stint at the Overseas Expansion wing of International Banking Group where he worked at SBI’s Chicago office and was associated with the overseas acquisition of Indian Ocean International Bank Mauritius (now SBI Mauritius) and PT Bank Indomonex (now SBI Indonesia).
Another crucial position held by him includes General Manager in Associates and Subsidiaries department of SBI Corporate Centre, where Mr. Khara worked closely on operational and strategic issues of various non-banking subsidiaries of SBI.
Mr. Khara has also served SBI Funds Management Pvt. Ltd. (SBIMF) as MD and CEO prior to his appointment as Managing Director at SBI. Under his leadership, SBI MF went on to become the 5th largest Mutual Fund company in India.
In his three and a half decades of experience, Khara has experience of all facets of banking such as Retail, Corporate Credit, and International Banking.
Khara was reportedly instrumental in executing merger of SBI with its five Associate Banks and Bhartiya Mahila Bank that made the bank join the league of top 50 banks globally.