NEW DELHI: A day before the end of his term, the government on Thursday extended SBI chairman Dinesh Khara’s term by 10 months, who will now remain at the helm till August 2024. The appointments committee of the cabinet (ACC) also extended the tenure of the bank’s
managing director Ashwini Kumar Tiwari by another two years. Tiwari’s term was to end on January 27.
Khara was given an extension as he was yet to turn 63 years, the current retirement age for the SBI chief
This makes him the second chairman since Arundhati Bhattacharya to be given an extension.Although the government may have set the age of superannuation at 63, there is no guarantee that an executive will be given an extended run, as several other bankers have been asked to hand over charge after their initial term was over.
The two proposals had been awaiting the government nod for several weeks and the Centre waited until the last day to decide on the proposal. In recent years, O P Bhatt and Bhattacharya had tenures of four years or more at India’s largest lender.
Bureau Report, All Rights Magazine