Piramal Finance has appointed former State Bank of India (SBI) Chairman Dinesh Kumar Khara as an Independent Director for a five-year term, effective 19 October 2026. The appointment adds extensive banking, financial services and institutional leadership experience to the retail-focused non-banking financial company’s Board.
Khara joined SBI as a Probationary Officer in 1984 and went on to hold senior positions across corporate and international banking, treasury, risk, technology and compliance. He also oversaw several of the bank’s non-banking subsidiaries before serving as SBI Chairman from October 2020 to August 2024.
During his tenure as Chairman, Khara was involved in SBI’s financial and digital transformation, including the expansion of its digital banking capabilities through YONO. He also played a key role in the merger of SBI’s five associate banks and Bharatiya Mahila Bank with SBI.
During the period cited by Piramal Finance, SBI’s market capitalisation increased from around US$20 billion to US$90 billion, while Return on Equity rose from approximately 7.7 per cent to more than 20 per cent. The bank’s net NPA ratio also declined from 1.50 per cent in FY21 to 0.57 per cent in FY24.
Khara has received several industry recognitions, including Lifetime Achievement Awards at the Business Today Best Banks Awards 2025 and Financial Express Best Banks Awards 2024. He was also named Indian of the Year 2023 in the Business category by CNN-News18 and received the BFSI Best CEO award in BT-PwC India’s Best CEOs ranking in 2022.
Following his tenure at SBI, Khara has taken on advisory and board responsibilities. He currently serves as an Operating Advisor to the Abu Dhabi Investment Authority, where he advises on investment opportunities, commercial due diligence and portfolio companies. He also serves as an Independent Director on the boards of several companies.
Khara holds an MBA from the Faculty of Management Studies and a Master of Commerce from the University of Delhi. He is also a Fellow of the Indian Institute of Banking and Finance.
Anand Piramal, Chairman, Piramal Finance, welcomed Khara to the Board, citing his experience in strengthening SBI, expanding access to formal banking and credit, and advancing financial inclusion. Piramal said Khara’s experience and understanding of financial services would support Piramal Finance as it expands access to formal credit and continues its growth journey.
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