TheNFAPost Podcast

Mumbai, NFAPost: Dinesh Khara took charge as the new Chairman of State Bank of India (SBI), with effect from October 7, 2020, for a three-year term. Prior to his new role, Dinesh Khara was serving the bank as Managing Director, Global Banking & Subsidiaries. He succeeds Mr. Rajnish Kumar, who demitted office on October 6, 2020.

Dinesh Khara has over three and a half decades of rich and diverse experience in all facets of banking such as Retail, Corporate Credit, and International Banking. As Managing Director, Dinesh Khara was instrumental in successfully executing the merger of SBI with its five Associate Banks and Bhartiya Mahila Bank that made the bank join the league of top 50 banks globally.

Dinesh 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.

Joined as a Probationary Officer in 1984 Dinesh Khara has held several key positions at SBI. As Chief General Manager – Bhopal Circle, Dinesh Khara managed around 1400 branches and handled deposits and advances portfolio of over Rs 1.5 lakh crores.

He has also had a stint in 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 Dinesh Khara worked closely on operational and strategic issues of various non-banking subsidiaries of SBI.

Dinesh 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).

State Bank of India (SBI) is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country. As on June 30, 2020, the bank has a deposit base of over Rs. 34 lakh crore with CASA ratio of more than 45% and advances of nearly Rs. 24 lakh crore. SBI commands nearly 34% market share in home loans and nearly 33% in the auto loans segment.

The Bank has the largest network of over 22,100 branches in India with an ATM / CDM network of over 58,500 and total BC outlets of more than 62,200. The number of customers using internet banking facilities is about 76 million and mobile banking services stand a little more than 17 million.

The integrated digital and lifestyle platform by SBI – YONO has crossed the landmark of 58 million downloads. YONO which has 26 million registered users, witnesses 5.5 million logins per day along with over 4000 daily disbursals of personal loans, 16,000 YONO Krishi Agri Gold Loans. The bank recently launched the YONO Global app in the UK and Mauritius and plans to cover 9 more countries by the end of 2020. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.

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