SBI: The tenure of Dinesh Khara, Chairman of the State Bank of India (SBI), could be extended because the government is considering providing relaxation in the retirement age of heads of all public sector banks and LIC.
The Chairman of the State Bank of India (SBI), Dinesh Khara, could have his tenure extended, as the government is considering granting relaxation in the retirement age of the heads of all public sector banks and LIC in the public sector.
The proposals presented before the government also include raising the retirement age of Managing Directors of public sector banks (PSBs) from the current 60 years to 62 years. Esteemed banker Khara had assumed the position of Chairman of SBI for a term of three years in October 2020. According to the existing rules, SBI Chairman can remain in the position until the age of 63. Khara will turn 63 in August next year.
He stated, “Discussions are ongoing regarding extending the retirement age of heads of public sector banks and Life Insurance Corporation (LIC). Alongside, there are talks about increasing the retirement age of Managing Directors of public sector banks from 60 years to 62 years.”
An official mentioned that a final decision has not been made regarding the retirement age of heads of public sector banks and LIC. Currently, the retirement age for the Chairman of LIC is 62 years.
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