Piramal Finance Limited has appointed former State Bank of India (SBI) Chairman Dinesh Kumar Khara as an Independent Director for a five-year term. The appointment took effect on October 19, 2026, subject to shareholder approval.
The company disclosed the decision in a filing to the BSE and NSE under Regulations 30 and 51 of the SEBI Listing Regulations. Its board approved the appointment at a meeting held on October 19, following a recommendation from the Nomination and Remuneration Committee.
Khara joins the board as an Additional Director designated as an Independent Director. His appointment brings extensive banking and financial services experience to Piramal Finance as the company continues to strengthen its leadership and governance.
Dinesh Kumar Khara Brings Nearly Four Decades of Banking Experience
Khara began his career at SBI as a Probationary Officer in 1984. Over the years, he held senior positions across corporate and international banking, treasury, risk management, technology, and compliance. He also oversaw several non-banking subsidiaries of the lender before becoming its Chairman.
He served as SBI Chairman from October 2020 to August 2024. During his tenure, he played a key role in the merger of SBI's five associate banks and Bharatiya Mahila Bank with the lender. The consolidation was a significant step in strengthening SBI's operations and expanding its banking network.
Key highlights:
- Khara served as SBI Chairman from October 2020 to August 2024.
- He brings nearly four decades of banking and financial services experience.
- His appointment to Piramal Finance's board is subject to shareholder approval.
Khara currently works as an Operating Advisor to the Abu Dhabi Investment Authority (ADIA). In this role, he advises on investment opportunities, commercial due diligence, and portfolio companies. He also serves as an Independent Director on the boards of several other companies.
His academic qualifications include 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.
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Anand Piramal Welcomes Former SBI Chairman to the Board
Anand Piramal, Chairman of Piramal Finance Limited, welcomed Khara's appointment and highlighted his contributions to India's banking sector.
"I am delighted to welcome Mr. Dinesh Kumar Khara to the Board of Piramal Finance. During his distinguished career, particularly as Chairman of SBI, he strengthened one of India's most important financial institutions and expanded access to formal banking and credit for millions of Indians, while nearly tripling SBI's annual net profit to ₹61,077 crore, growing its loan book by over 50% to approximately ₹38 lakh crore and reducing its net NPA ratio by over 60%," Piramal said.
The appointment adds an experienced banking leader to Piramal Finance's board, bringing knowledge of large-scale financial operations, risk management, and institutional growth. Khara's experience across banking, investments, and corporate governance is expected to contribute to board-level discussions as the company pursues its business objectives.
