New Delhi: The SBI MD Dinesh Khara was appointed as the CMD of the bank, as the successor to Rajinish Kumar, Chairman of the Country’s largest bank and whose term ended on Tuesday. Separately the Banks Board Bureau has recommended the appointment of Swaminathan Janaki Raman and Ashwini Kumar Tiwari as SBI MDs.

Khara (59) started career in the SBI as a probationary office in 1984. He is a commerce graduate and holds an MBA degree from Delhi University’s faculty of Management Studies. He was earlier head of SBI Mutual Fund, where he ramped up a business, which had been stagnating for decade. He was head of bank’s Bhopal circle. As MD, he over saw the merger of five associates and Bhartiaya Mahila Bank with SBI, Khara’s biggest challenge is to grow SBI without degrading asset quality at a time when private banks have raised over Rs. 60K crores capital and set to grab market share from their public sector rivals.

Janaki Raman, currently Deputy MD of the bank, Tiwari, CEO of SBI Card, will replace Khara and Arijit Basu, who will retire this month end. The bureau interviewed 16 top SBI Executives on Monday and named P.C. Kandpal, MD of SBI General and AK Choudhary, DMD of SBI, on the reserve list. The notification, appointing Khara as Chairman, which came late on Tuesday, said that he has been given a term of three years.