Dinesh Kumar Khara, Managing Director of the State Bank of India (SBI), takes over as Chairman of SBI effective today. On Tuesday, the government appointed Dinesh Kumar Khara president of the bank for three years starting on October 7. He replaced the president of the SBI, Rajnish Kumar, whose three-year term ends on October 7. Khara’s appointment comes at a time when the banking industry, along with other sectors, is going through a major crisis due to the coronavirus pandemic.
“Dinesh Kumar Khara, appointed president of the bank for a period of 3 years from the date of his inauguration on October 7, 2020 or later, or until further orders, whichever occurs first,” according to a notice issued by the Ministry of Finance.
Five things to know about SBI’s new president, Dinesh Kumar Khara:
1) On August 28, the Bank’s Board Bureau recommended the appointment of Dinesh Kumar Khara to the position of SBI President.
2) Khara was appointed Managing Director of SBI in August 2016 for a term of three years. He got a two-year extension in 2019 after reviewing his performance.
3) Khare was instrumental in the merger of five partner banks and Bharatiya Mahila Bank with SBI from April 2017.
4) Dinesh Kumar Khara joined SBI as a probationary officer in 1984 and has over 33 years of experience in all facets of commercial banking such as retail credit, SME / business credit, deposit mobilization, international banking and branch management.
5) The 59-year-old banker completed his Master of Business Administration at the Faculty of Management Studies at the University of Delhi and is a graduate degree in Commerce.
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