Dinesh Khara Honored With Lifetime Achievement Award for Exceptional Leadership at SBI

Dinesh Khara Honored With Lifetime Achievement Award for Exceptional Leadership at SBI

Dinesh Khara, the former chairman of State Bank of India (SBI), has been recognized with the prestigious Lifetime Achievement Award by the FE Best Banks jury, honoring his outstanding leadership and achievements at India’s largest bank. Khara, known for his ability to handle one of the most challenging roles in the banking sector with ease, attributes his success to his management expertise and dedication to getting things done.

A long-time admirer of management principles, Khara’s favorite book, Execution: The Discipline of Getting Things Done by Larry Bossidy and Ram Charan, reflects his approach to leadership. After earning his management degree from the Faculty of Management Studies at the Delhi School of Economics, Khara embarked on a remarkable journey in banking, which ultimately led to his chairmanship at SBI.

During his four-year tenure at the helm, Khara oversaw remarkable growth at SBI, despite the daily demands of running such a massive institution. Under his leadership, SBI saw substantial improvements in key financial metrics. Net profit surged by 22% to 59%, the return on assets (RoA) doubled from 0.4% in FY20 to 1% in FY24, and return on equity (RoE) rose from 6.4% to 17.3%. Additionally, Khara’s strategic focus on reducing non-performing loans (NPL) helped lower the net NPL ratio from 2.2% in FY20 to just 0.6% by FY24. The bank’s business also grew significantly, with net loans and advances reaching Rs 37 lakh crore and total assets nearing Rs 62 lakh crore by FY24.

Despite the immense pressure of frequent travel and daily decision-making, Khara maintained his balance through a disciplined routine of yoga and meditation, managing with only 5-6 hours of sleep. His fitness regimen, which involved giving up his beloved sweets, helped him stay energized for the demanding job.

Khara’s early career experiences across various branches of SBI gave him the practical knowledge needed to run the bank successfully. His early assignments in places like Jaipur, Bahalgarh, and Raipur helped shape his leadership style, especially during the challenging period of the Naxal movement in Chhattisgarh.

A strong advocate of technology and innovation, Khara played a key role in SBI’s digitalization drive, convincing many employees to embrace new technologies. His leadership extended to SBI Mutual Fund, where he successfully doubled the assets under management (AUM) during his tenure.

Khara’s legacy as a people-focused leader with an even temperament has left a lasting impact on SBI and the Indian banking sector. He remains a symbol of excellence in leadership and execution, making him a worthy recipient of the Lifetime Achievement Award.