Piramal Finance has appointed former State Bank of India (SBI) chairman Dinesh Kumar Khara as an independent director for a five-year term, effective October 19, 2026, the non-banking financial company said on Wednesday, October 21.
Khara served as SBI chairman from October 2020 to August 2024, following a career spanning nearly four decades at the public sector lender. His responsibilities included corporate and international banking, treasury, risk management, technology and compliance.
During his tenure as SBI chairman, the bank merged five associate banks and Bharatiya Mahila Bank with itself. He also oversaw the expansion of its digital banking platform YONO.
Before taking over as chairman, Khara held several senior positions at SBI and oversaw some of the bank’s non-banking subsidiaries. He joined the lender as a probationary officer in 1984.
Khara currently serves as an operating advisor to the Abu Dhabi Investment Authority, where he advises on investment opportunities, commercial due diligence and portfolio companies. He is also an independent director on the boards of several companies.
The appointment comes as Piramal Finance operates across retail and wholesale lending. As of September 30, 2026, the company reported assets under management (AUM) of more than ₹1.10 lakh crore and a customer base of over 6.5 million across 26 states.
Its retail lending portfolio includes affordable housing loans, loans against property, gold loans, microfinance, used-car loans, personal loans and small-business credit. The company also provides financing to real estate and select non-real estate sectors.
Anand Piramal, chairman of Piramal Finance, said Khara’s experience in banking and financial services would contribute to the company’s board as it expands its lending business.
Khara holds an MBA from the Faculty of Management Studies and a Master of Commerce degree from the University of Delhi. He is also a fellow of the Indian Institute of Banking and Finance.