Govt appoints Dinesh Kumar Khara as SBI chairman for three years

The government on Tuesday appointed Dinesh Kumar Khara as chairman of State Bank of India (SBI), the country's largest lender, for three years, effective Wednesday.

Khara, one of the bank's four managing directors, replaces Rajnish Kumar, who is stepping down after being at the helm for three years.

A state-run banks appointment panel in August recommended Khara as the next chairman of SBI. Prior to his elevation, Khara was managing director of associates and subsidiaries at SBI.