Adapting to Change Rapid digitisation and scaling up of non-banking businesses, from cards to insurance and MFs to YONO, have helped SBI transform itself Dinesh Kumar Khara, Chairman, State Bank of India A week ago, Dinesh Kumar Khara, 59, the new Chairman of India's largest bank, State Bank of India (SBI), had said the 'elephant is ready to dance'. Khara's optimism shows up in the bank's stock market performance where its share price doubled since he took charge in October 2020. The reasons are a greater control over asset quality deterioration, robust base of low-cost deposits, retail banking acceleration in mortgages and institutional set-up for housing loans gone bad and financing long-term infrastructure projects. Also, the bank's subsidiaries are already firing on all cylinders. Be it SBI Cards or SBI Life, the higher market valuations indicate the future scaling-up of these businesses.