SBI achieved a record high in per-employee productivity

Delhi: India’s largest lender State Bank of India, under Dinesh Kumar Khara, who’s superannuating as Chairman on August 28 upon turning 63, saw its per employee productivity jumping to a record high.

Khara, an alumni of the Delhi School of Economics, began helming the bank from October 7, 2020, after joining the bank in 1984 as a probationary officer, for a three-year term but got an extension for a year in October 2023 or till he turns 63 which is falling on August 28.

He is likely to be succeeded by his senior-most managing director Challa Sreenivasulu Setty, whose name has been recommended by the official selection board in June. A formal cabinet note on his appointment is awaited.

In response to a query from a reporter on his last earnings press conference on Saturday afternoon, as how would he assess his innings at the bank, the Bank’s chief financial officer Saloni Narayan said, “the bank under the chairmanship of Khara earned higher profits between October 2020 and June 2024 and it touched Rs 1.63 trillion on a cumulative basis from Rs 1.45 trillion in its last 65 years.”