India extends tenure of SBI chairman until August 2024, sources say

NEW DELHI, Oct 5 (Reuters) - India has extended the tenure of the chairman of the State Bank of India (SBI) (SBI.NS), the countrys largest lender, until August next year, two government sources said.

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 sources said, declining to be named as they are not authorised to speak to the media.

Khara was appointed SBIs chairman on Oct. 7, 2020 for three years. An official order was likely to be issued \“shortly\”, the sources said.

Indias finance ministry and SBI did not immediately reply to Reuters request for comment.

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 considering extending the age limit of managing directors of other state-owned banks to 62 years from 60, the sources said.