India extends tenure of SBI chairman until August 2024 – order

By Sarita Chaganti Singh and Nikunj Ohri

NEW DELHI (Reuters) -India has extended the tenure of the chairman of the State Bank of India (SBI), the country’s largest lender, until August next year, a government order said on Thursday.

Dinesh Khara, who was due to retire later this week, will stay on till he turns 63 – the currently stipulated age of retirement for the SBI chairperson, the order said.

Khara was appointed SBI’s chairman on Oct. 7, 2020, for three years.

The government has also extended the tenure of Ashwini Kumar Tewari as the managing director of the state-run lender for two years starting Jan. 27, 2024, as per the order.

Separately, the Indian government is also considering a proposal to raise the age limit for the chairman of SBI by two years to 65 and is considering extending the age limit of managing directors of other state-owned banks to 62 years from 60, the sources said.

(Reporting by Sarita Chaganti Singh and Nikunj Ohri; Editing by Savio D’Souza and Eileen Soreng)