State Bank of India or SBI is the largest public sector bank in India. The salary of its chairman or CEO is always a topic of discussion. As the head of this institution, SBI Chairman (CEO) plays a crucial role in handling the bank’s operations, making crucial decisions, and ensuring its growth & stability.
The current CEO/ Chairman of SBI is Dinesh Khara. As per the report, he took home an annual salary of 37 lakhs in the fiscal year 2022-23. The reason why the CEO of SBI draws an impressive salary is that he manages an immense responsibility for the bank. In this post, we will try to understand the structure and components of the SBI CEO’s Salary along with his role in the bank.
An Introduction to Dinesh Khara – Present Chairman of SBI
| Full Name | Dinesh Kumar Khara |
| Date of birth | 28th August 1961 |
| Position | Chairman of the State Bank of India |
| Held the post since | 7th October 2020 |
| Preceded by | Rajnish Kumar |
| Joined SBI in the year | 1984 |
| Salary | Rs. 37 lakh per annum. |
Salary of SBI CEO in 2023
In the fiscal year 2022-23, Dinesh Khara, the current CEO of SBI earned an annual salary of ₹37 lakh. According to a report by Moneycontrol, this salary consisted of Rs. 27 lakh basic pay and Rs. 9.99 lakh dearness allowance.
If we talk about the previous fiscal year, Khara earned Rs. 34.42 lakh which was 13.4% higher than his predecessor Rajnish Kumar’s salary.
As of March 2023, Khara has the massive responsibility of managing the Rs. 55 lakh crore of assets owned by SBI. It is true that his compensation has increased by around 7.5% as compared to the previous year, but it is still lower than the salaries of private bank officers.
SBI CEO’s Salary As Compared to the Salary of Other Bank CEO
The CEO of SBI receives a competitive salary package that matches the industry standards and market trends. You should note that his salary is determined by various factors including the bank’s financial performance, market conditions, experience/ qualification of the CEO, etc.
Other banks in India also offer competitive salary packages to their CEOs. These banks are often smaller in size compared to SBI, but they operate in a highly competitive market and need to attract top talent. The CEO salaries of private banks are influenced by factors such as the bank’s profitability, market share, growth potential, etc. Let’s take a look at the salary of CEOs of some other banks.
HDFC Bank
The Chief Executive Officer (CEO) of HDFC Bank Sashidhar Jagdhisan received an annual salary of Rs. 6.51 crore as direct compensation in the financial year 2021-22. This salary is huge as compared to SBI CEO Salary in 2023 because Sashidhar Jagdhisan manages only half the amount of assets as compared to Dinesh Khara.
Axis Bank
The managing director and CEO of Axis Bank is Amitabh Chaudhry. In the last financial year, he was the highest-paid private bank chief in India. He drew a total of Rs. 7.62 crore in annual salary.
Also Check SBI PO Salary
Roles and Responsibilities of SBI Chief Executive Officer (CEO)
Here are some of the key roles and responsibilities managed by the CEO of SBI.
- Leadership and Strategy – SBI CEO is responsible for providing strong leadership and creating a strategy for the development of SBI.
- Financial Management – He is also responsible for overseeing the financial performance of SBI ensuring its profitability, stability, and growth. Additionally, the CEO monitors key financial indicators, manages risk, etc. to maintain the bank’s financial health.
- Stakeholder Management – The CEO is the official representative of SBI that manages relationships with various stakeholders including government bodies, regulatory authorities, shareholders, etc.
- Business Development – The CEO focuses on expanding SBI’s business by exploring new opportunities, products, and services.
- External Representation – Another duty of the SBI CEO is being the public face of SBI. He represents the bank in various industry conferences, forums, and events.
- Corporate Governance – One of the major responsibilities of the SBI CEO is making sure that the bank follows corporate governance principles and legal requirements.
List of All Chairman of State bank Of India (SBI)
| S.No. | Chairman | Term |
| 1 | John Matthai | 1 July 1955 to 30 September 1956 |
| 2 | H. V. R. Iyengar | 1 October 1956 to 28 February 1957 |
| 3 | P. C. Bhattacharya | 1 March 1957 to 28 February 1961 |
| 4 | Borra Venkatappaiah | 1 March 1962 to 28 February 1965 |
| 5 | V. T. Dehejia | 1 March 1965 to 28 February 1969 |
| 6 | Raj Kumar Talwar | 1 March 1969 to 3 August 1976 |
| 7 | T. R. Varadachary | 4 August 1976 to 30 April 1977 |
| 8 | P. C. D. Nambiar | 23 May 1977 to 13 December 1982 |
| 9 | V. S. Natarajan | 20 December to 1982 30 January 1983 |
| 10 | R. P. Goyal | 31 January 1983 to 30 November 1983 |
| 11 | Vishwanath N. Nadkarni | 1 December 1983 to 27 July 1984 |
| 12 | D. N. Ghosh | 13 May 1985 to 12 May 1989 |
| 13 | Atal V. | 15 January 1990 to 17 February 1990 |
| 14 | M. N. Goiporia | 19 February 1990 to 31 July 1992 |
| 15 | Dipankar Basu | 25 February 1993 to 31 August 1995 |
| 16 | P. G. Kakodkar | 1 October 1995 to 31 March 1997 |
| 17 | M. S. Verma | 1 April 1997 to 30 September 1998 |
| 18 | M. P. Radhakrishnan | 1 December 1998 to 31 January 1999 |
| 19 | G. G. Vaidya | 1 February 1999 to 31 October 2000 |
| 20 | Janki Vallabh | 1 November 2000 to 31 October 2002 |
| 21. | Arun Kumar Purwar | 13 November 2002 to 31 May 2006 |
| 22. | O. P. Bhatt | 1 July 2006 to 6 April 2011 |
| 23. | Pratip Chaudhuri | 7 April 2011 to 30 September 2013 |
| 24. | Arundhati Bhattacharya | 1 October 2013 to 6 October 2017 |
| 25. | Rajnish Kumar | 7 October 2017 to 6 October 2020 |
| 26. | Dinesh Kumar Khara | 7 October 2020 to Incumbent |
Frequently Asked Questions
As per the data of the fiscal year 2022-23, the salary of SBI’s CEO is Rs. 37 lakhs per annum.
Yes, the salary of a SBI CEO can change over time based on a variety of factors including the performance of the bank, regulatory changes, government policies, etc.
Dinesh Khara.
Usually, it is noticed that the CEO of a reputed private bank earns a better salary.
Former SBI Chairman Rajnish Kumar received a salary of Rs. 30.34 lakh per annum before his retirement.
