Dinesh Kumar Khara has been appointed as a Managing Director (MD) of State Bank of India (SBI), which is India’s largest lender. However, his appointment was confirmed by the Appointments Committee of the Cabinet (ACC) which is headed by Prime Minister Narendra Modi. D K Khara was appointed for the period of total three years. Ashok Kumar Garg and Raj Kamal Verma have been appointed as ED of Bank of Baroda and Union Bank of India respectively. Gopal Murli Bhagat and Himanshu Joshi have been appointed as ED of Corporation Bank and Oriental Bank of Commerce respectively.
Before this appointment, he was also working as MD and chief executive of SBI Funds Management Pvt. Ltd. Besides this, ACC also appointed Ashok Kumar Garg and Raj Kamal Verma as executive directors of Bank of Baroda (BoB) and Union Bank of India (UBI), respectively.
About State Bank of India
• State Bank of India is an Indian multinational, public sector banking and financial services company.
• It is a government-owned corporation.
• Its headquarters is located in Mumbai, Maharashtra.
• As of 2014-15, it had assets of 310 billion US dollar.
• It is ranked 232nd on the Fortune Global 500 list of the world’s biggest corporations as of 2016.
• It is one of the Big Four banks of India, along with ICICI Bank, Bank of Baroda and Punjab National Bank.