Dinesh Kumar Khara is the new State Bank of India chairman. He replaces Rajnish Kumar, who completed his three-year term.

The government on Tuesday appointed Khara as SBI chairman for three years effective from 7 October.

The Banks Board Bureau (BBB) separately recommended the appointment of Swaminthan Janakiraman and Ashwini Kumar as managing directors of SBI. While Janakiraman is deputy MD, Tewari is the CEO of SBI Cards.

SBI has four managing directors to assist the chairman. Janakiraman and Tewari will replace Khara and Arijit Basu, who is retiring by the month-end.

Khara, who joined SBI in 1984 as a probationary officer, was appointed as MD of SBI in August 2016 for a three-year term. In 2019, he got a two-year extension after review of his performance.

Prior to becoming MD, he was the MD and CEO of SBI Funds Management Pvt Limited (SBIMF).

He was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI effective April 2017.