Piramal Finance Limited is strengthening its board with the appointment of Dinesh Kumar Khara, former Chairman of the State Bank of India (SBI), as an Independent Director for a five-year term starting October 19, 2026, pending shareholders’ approval. The move, disclosed in a filing and accompanied by a press release, signals Piramal Finance’s intent to leverage Khara’s deep banking governance experience as it ramps up its growth journey.
Khara’s career spans nearly four decades in banking and financial services. Joining SBI as a Probationary Officer in 1984, he rose through corporate and international banking, treasury, risk, technology, and compliance, ultimately leading SBI as Chairman from October 2020 to August 2024. During his tenure, he steered the bank through a major merger with five associate banks and Bharatiya Mahila Bank, and guided a notable digital transformation marked by the YONO platform. SBI’s market capitalisation expanded from around US$20 billion to roughly US$90 billion, ROE climbed to over 20%, and the net NPA ratio declined to 0.57% by FY24, underscoring his track record in governance, growth, and risk management.
Anand Piramal, Chairman of Piramal Finance, welcomed Khara, noting that his strategic judgment and deep experience in financial services would be invaluable as Piramal Finance broadens access to formal credit and advances its growth trajectory. Khara also serves as an Operating Advisor to the Abu Dhabi Investment Authority and sits on several boards as an Independent Director, bringing a global perspective to Piramal Finance’s retail-led, phygital model.
Piramal Finance, a retail-led NBFC with a pan-India footprint, reported an assets under management of over ₹1.10 lakh crore as of 30 September 2026 and serves more than 6.5 million customers across 26 states. The company emphasizes a blended approach—high-touch engagement across 13,000+ pin codes with digital capabilities—to expand access to affordable credit and drive inclusive growth across India.