Dinesh Kumar Khera,the senior most managing director of State Bank of India(SBI), who turned 59 today,has been recommended by the Banks Board Bureau(BBB) as the next chairman of the bank.
Rajnish Kumar, chairman, SBI, will be calling it a day on October 07.
The BBB,the headhunter for state-owned banks and financial institutions had interfaced with four managing directors of State Bank of India on Friday for the forthcoming vacancy of chairman of SBI
“Keeping in view their performance in the interface and their overall experience, the Bureau recommends Khera for the vacancy of chairman in SBI while Challa Sreenivasullu Setty as the candidate on the reserve list for the said vacancy,’’ said BBB.
The recommenadtion of the BBB for the SBI chairmanship will now need approvals from Nirmala Sitaharaman, union finance minister and Appointments committee of the Cabinet(ACC) before Department of Personnel & Training and ministry of finance notify Khera's name as the chairman of SBI.
Khera had appeared for the bank's chairmanship interview for the second time after first appearing in 2017.
“It is worth watching what is the tenure the government will be giving to Khera as he has just one year left to reach 60, the age for the retirement,'' said analysts.
However, both Rajnish Kumar and his predecessor Arundhati Bhattacharya were given tenurs as SBI chairman beyound 60 years of age.
The other three managing directors of the bank are Arijit Basu, C S Setty and Ashwani Bhatia.
Khera joined SBI as a probationary officer in 1984 and has over 33 years of experience in all facets of commercial banking such as retail credit, MSME, corporate and international banking operations.
HE did his Masters in Business Administration from the Delhi University and is a post-graduate in Commerce..
In the past he held the position of CEO,Director & MD at SBI Funds Management. ,
BBB is headed by former Department of Personnel & Training Secretary Bhanu Pratap Sharma and other panels members of the body are -Debasish Panda, secretary, department of financial services, Ministry of Finance, Shri Sailesh, secretary, department of public enterprises,N. S. Vishwanathan, former deputy governor, Reserve Bank of India, Vedika Bhandarkar, former vice-chairman & MD, Credit Suisse(Part-time member)Panja Pradeep Kumar,Former MD, SBI(Part-time member) Pradip Panalal Shah, former MD, CRISIL(Part-time member).