Meet Dinesh Khara, DU grad who leads Rs 5 trillion bank in India; his yearly salary is…
Dinesh Khara is the Chairman of India’s biggest government bank State Bank of India (SBI), and his yearly take-home salary recently sparked a private vs public bank debate.
While private sector banks in India are set to have massive take-home pay, the salary of the leadership of leading public sector bank State Bank of India (SBI) was recently made public. The current chairman of SBI is Dinesh Kumar Khara.
SBI chairman Dinesh Khara has been a part of the State Bank of India team for nearly four decades now and assumed the top post in the government bank in 2020, before which he had taken over many top positions in the bank such as the Managing Director and Chief General Manager.
Dinesh Khara, before joining the State Bank of India in 1984, got his postgraduate degree in Commerce from the Delhi School of Economics and an MBA from the Faculty of Management Studies, which is a part of the prestigious Delhi University (DU).
While Khara joined SBI in 1984 as a Probationary Officer (PO), but soon rose through the ranks and held several key positions in SBI, eventually becoming the Chairman of SBI and leading the biggest public sector bank in India.
SBI Chairman Dinesh Khare’s yearly salary was recently made public, and it was revealed that the head of the bank has an annual take-home pay of Rs 37 lakh for FY23. The same was revealed by the yearly financial report released by SBI.
SBI is the largest bank in India when measured by assets. SBI chief Dinesh Khara’s salary in the previous financial year was hiked by 7.5 percent, making his take-home pay Rs 37 lakh. This means that his monthly salary this year is Rs 3.08 lakh.
This sparked a major debate about the pay disparity between the heads of public sector and private sector banks in India. While Khare’s salary was Rs 37 lakh annually, HDFC Bank MD and CEO Sashidhar Jagdishan had a total compensation of around Rs 6.51 crore.