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Dinesh Khara likely to be chairman of SBI

The Banks Board Bureau (BBB) has recommended Dinesh Kumar Khara for the position of Chairman of the State Bank of India. If the Appointments Committee of the Cabinet approves the recommendation, he will be taking over from Rajnish Kumar, who will end his term at the helm of the bank on 7 October. The BBB has also recommended Challa Sreenivasulu Setty’s name as the reserved list candidate for the vacancy. The chairman of SBI is usually appointed from amongst serving managing directors of the bank. Khara is one of the 4 current managing directors of the bank, the other three being Arijit Basu, Challa Sreenivasulu Setty and Ashwani Bhatia. Bhatia was elevated to the post of Managing Director only recently. Khara is the senior-most among them. He heads the GB & S wing of the bank. He holds a board-level position and supervises the businesses of SBI’s non-banking subsidiaries. Prior to being appointed as Managing Director, he was the MD and CEO of SBI Funds Management.

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