The Banks Board Bureau (BBB), the body entrusted with the task of the selection of the chiefs of public sector banks and insurance companies, has recommended Dinesh Kumar Khara as the next Chairman of State Bank of India.
Khara, who is currently a managing director (MD) at the bank, will take over as chairman on October 8 once the government approves the selection.
Though there was speculation that current Chairman Rajnish Kumar might be considered for an extension, it didn’t materialise. The tenure of Kumar who was appointed for a period of three years in 2017 will end on October 7, 2020. The members of BBB met four MDs of SBI — Ashwani Bhatia who took charge as one of the MDs of SBI on Monday and three existing MDs, Khara, Arijit Basu and CS Setty — on Friday to finalise the new Chairman’s name. “Keeping in view their performance in the interface and their overall experience, the Bureau recommends as follows: Dinesh Kumar Khara for the vacancy of Chairman and Challa Sreenivasulu Setty as candidate on the Reserve List for the vacancy,” BBB said.
Khara joined SBI as a probationary officer in 1984 and has over 35 years of experience in the banking industry.
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