Smt. Varsha Purandare assumed charge as Managing Director & Chief Executive Officer of SBI Capital Markets Limited (the Merchant Banking arm of State Bank of India) on 9th November 2015. Prior to this, Ms. Purandare was the Deputy Managing Director and Chief Credit Officer (DMD & CCO) of the State Bank of India.
Ms. Purandare has been with the State Bank of India for over three decades, having joined the Bank as a Probationary Officer in 1982. During her long career of 33 years in the Bank, she has held many challenging assignments, both in India and abroad, which include Branch Banking, Large Credit, Forex and other assignments as below:
Chief General Manager of Chennai Circle of the Bank, heading the Bank’s operations in the State of Tamil Nadu.
General Manager (Forex & Global Markets) at the Bank’s Corporate Center in Mumbai.
General Manager – Mid Corporate Group at the State Bank of India Regional Office at Pune.
Dy. General Manager – Mid Corporate Group at the Bank’s Industrial Finance Branch, Mumbai.
Dy. General Manager at the Bank’s main branch in Ahmedabad.
Ms. Purandare was also posted at Bank’s New York office as a forex dealer.
Shri Vasudeo R. Galkar is a fellow member of the Institute of Chartered Accountants of India and holds a degree in law and a bachelor’s degree in commerce. Shri Galkar retired as an Executive Director (Investment) of Life Insurance Corporation of India with 33 years of service out of which 13 years in Investment Department. Shri Galkar is a Partner of M/s. Sarda & Pareek, Chartered Accountants.
With a Master's degree in Economics, Smt. Rao has been the quintessential banker since August 1972. Her 35 years in the Bank have seen a range of assignments both in India and abroad in areas like Commercial Banking, Project Finance, and International Banking. She has had stints as Manager- Business Development, Singapore, Deputy General Manager- Overseas Branch, Bangalore, General Manager- Project Finance SBU, Mumbai, Chief General Manager- International Banking Group, Foreign Offices, Mumbai, Dy. Managing Director & Group Executive (International Banking), Corporate Centre, Mumbai and Dy. Managing Director & Chief Credit Officer, Corporate Centre, Mumbai.
Shri Neeraj Vyas, Deputy Managing Director (Chief Operating Officer), State Bank of India, joined the Bank as Probationary Officer in 1981.
Prior to this, he served as DMD/CGM (Associates & Subsidiaries), overlooking the merger process of Associate Banks and Bhartiya Mahila Bank Limited. He also held the assignments as Chief General Manager (Corporate Strategy and New Businesses), General Manager in Chandigarh Circle in charge of two States of Jammu & Kashmir and Himachal Pradesh. He was Deputy General Manager (Cadre Management) at Corporate Centre, Mumbai; as also Deputy General Manager & CDO of Ahmedabad Circle. In Ahmedabad, he was instrumental in the handling the merger and HR issues successfully post-merger of SBI and State Bank of Saurashtra. He also had a stint abroad at SBI, Johannesburg as In-Charge of Credit Department.
He holds a Master’s degree in Science from Vikram University, Ujjain, Madhya Pradesh.
Shri H. N. Varma, has had an illustrious career with the State Bank group with experience in a wide variety of banking verticals. He has also served in SBI Capital Markets Ltd. and has in- depth knowledge of investment banking and distribution paradigm in the capital markets.
Dr. T. T. Ram Mohan, Independent Director, has several years of experience in consultancy and in the financial sector. Graduated from IIT, Bombay and IIM, Calcutta and obtained his doctorate from Stern School of Business, New York University. Served on several RBI and SEBI committees and on boards of directors. At present, Professor, Finance and Economics at the Indian Institute of Management, Ahmedabad.
Non Executive Director
Managing Director (Associates & Subsidiaries)
Shri. Ashwani Bhatia has completed his B.Sc. in Mathematics/Physics and MBA from Jaipur and is the President & COO of SBI Capital Markets. He has been with State Bank of India for the past 30 years. Previously, he was the Chief General Manager – SME at its Corporate Office; General Manager (Network) for Punjab / Jammu & Kashmir / Himachal Pradesh in Chandigarh Circle; Deputy General Manager, Mid Corporate Group, Chandigarh. He was also part of the Treasury for 8 years as Head (Forex), Head (Interest Rates) and Chief Dealer (Equities). He began his career in Rajasthan and has also been posted as Dealer (Money & Forex) in Tokyo Branch.
Shri Dinesh Kumar Khara is the Managing Director (Associates & Subsidiaries), State Bank of India. Earlier he was Managing Director & CEO of SBI Funds Management Private Limited (SBIMF) for the period 11th November 2013 to 10th August 2016. Under his leadership, the Company leaped one position up and became the 5th largest Mutual Fund in India with total AUM of about Rs. 1,30,000 crore by improving its market share to 8.8% from 7%. Prior to his assignment in SBIMF, Shri Khara was Chief General Manager - Bhopal Circle, State Bank of India - responsible for managing around 1400 branches and handling deposits and advances portfolio of approx. Rs. 1.51 lac crores.
Shri Dinesh Kumar Khara did his Master’s in Business Administration from FMS New Delhi and is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB). Shri Khara joined SBI as Probationary Officer in December 1984 and has over 32 years of experience in all facets of Commercial banking such as Retail Credit, SME / Corporate Credit, deposit mobilization, international banking operations, branch management, etc. in India and abroad. During his tenure, the Bank increased market share in its area of operation and also improved the profitability of key businesses by formulating and implementing strategies for effective delivery of products and services with a clear focus on maximizing profits. As General Manager in Associates and Subsidiaries department of SBI Corporate Centre, Shri Khara worked closely with the operational and strategy issues of various Non-banking subsidiaries of SBI.
Chief Financial Officer
Chief Risk Officer
Shri Sarbeswar Lenka is an M.SC in Physics & CAIIB. He joined State Bank of India as Probationary Officer in December 1983. He has experience in International Banking & Treasury operations spanning over 15 years in Branches in SBI Forex Treasury at Kolkata & Mumbai. He has handled Retail as AGM at Local Head Office for Bhubaneswar circle & also worked as Regional Manager in Bhubaneswar circle for over 5 years. He was the Chairman of Chhattisgarh Rajya Gramin Bank at Raipur for 3 years with experience in the amalgamation of 3 Regional Rural Banks in the state of Chhattisgarh. He has worked as Chief Financial Officer at SBICAP Securities Ltd for about 1 year.
Shri Abraham K Varkey is an M.Com & CAIIB. He joined State Bank of India as Probationary Officer in December 1984. He has worked as Head, RTMU at Chennai and Head – Back office at Hong Kong (IBO). He has also worked as SVP & Head (Product Development & Marketing – State Bank Group Channel) at SBI Funds Management Ltd.
Head - Institutional Equities
SVP & Head – IT
Shri Nirav Sheth, an engineer, and alumni of Symbiosis Institute of Management has joined us as the Head of Institutional Equities. Prior to SBICAP Securities, he was associated with Edelweiss for nearly six years − initially heading sales and then research. He also has demonstrable Buy-side experience – having being associated with ICICI Prudential MF heading their portfolio management services during the tumultuous 2008-11 period. He was one of the founding team members that set up BRIC’s securities institutional desk, which was then sold off to Lehman Brothers. His equity research and sales experience of ~22 years span several sectors and few firms in the formative years –prominent ones, such as IIT/Smith New Court, SSKI and ENAM.
Shri Gurpreet Sidana joined SBICAP Securities in 2015 and is currently designated as Head – Retail broking business. He is responsible for the Retail Business (Including branch network and online), Products, Marketing and Customer Service Group as well.
He has a vast experience of around 19 years in the areas of building and managing large format retail broking business both in India and overseas in various capacities with organizations of repute such as Religare Securities, Religare Securities (Australia) and Heckyl Technologies. He is a Chartered Accountant and Commerce Graduate, Delhi University.
Shri Shyam Panicker has more than 18 years of work experience in Information Technology, especially in the Capital Markets. His expertise covers a wide gamut of areas such as drafting and implementing Business systems processes and policies, IT policies, Disaster Recovery/BCP policy and implementation. He is a key member in the business strategy developing and policy implementation.
Head Back Office
Shri. Muralidharan Nair is MBA in
An alumni of Narsee Monjee Institute of Management with specialization in HR, Shri Sharanabasappa P. Jade has close to 20 years of experience in BFSI sector more so in Human Resource Development. He comes with a rich experience from ICICI Bank and TATA Capital, where he has spent substantial period and contributed to the growth of the organizations.
Heads the Human Resources Team for over 3 years. Has been instrumental in building a large team and bringing in the best HR practices for the organization.
Shri Muralidharan Nair is MBA in Finance from the University of Mumbai. He joined SBICAP Securities Ltd in Oct 2006. He has rich experience of over 20 years in Broking, Investment & Forex. Prior to joining SBICAP Securities, he served many esteemed organisations such as HDFC Securities Ltd, ISE Securities & Services Ltd, Allianz Securities Ltd, Wall Street Finance Ltd.