Dinesh Kumar Khara appointed new SBI chairman

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NEW DELHI: The government on Tuesday appointed State Bank of India (SBI) managing director Dinesh Kumar Khara to head the country’s largest bank on incumbent Rajneesh Kumar’s retirement. His appointment will be effective from October 7 for a period of three years.
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.
The recommendation by BBB followed an interview of 16 candidates on Monday with SBI General Insurance MD Prakash Chandra Kandpal and SBI deputy MD Alok Kumar Choudhary on the reserve list.
Khara, the senior-most MD, was the first choice to replace Kumar as chairman.
In 1984, Khara had started out as a probationary officer after graduating in commerce. He also holds an MBA degree from Delhi University’s Faculty of Management Studies. An officer of the Delhi circle, he has held various posts and also headed the Bhopal circle.
He has also had a stint in Chicago and oversaw the merger of five associates and Bhartiya Mahila Bank with SBI. He was also the head of SBI Mutual Fund and SBI General. At SBI MF, Khara is credited with ramping up the business and helping scale up the asset management business, which had been stagnating for close to a decade.
The 59-year-old took over as an MD of SBI in August 2016 and was given a two year extended term.



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