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The government has granted an extension to the State Bank of India chairman Dinesh Khara till August 2024, according to media  reports. The approval comes ahead of the end of his three-year tenure on October 6, 2023.
As per the Appointments Committee of the Cabinet (ACC) order, an SBI chairman can hold the post until the age of 63 years, the sources said.  Khara attains 63 years in August next year, they said.

Besides, the ACC has also approved extension of the tenure of Ashwini Kumar Tiwari as the managing director for two years beyond January 27, 2024.

An order for confirming the extension is likely to be issued on Friday. The central government is also considering a proposal to raise the age limit for SBI chairman by two years to 65 and considering extending the age limit of managing directors of other state-owned banks to 62 years from 60, according to a Reuters report.

Khara was given an extension as he was yet to turn 63, the current retirement age for the SBI chief. This extension makes Khara the second chairman since Arundhati Bhattacharya to get a service extension. In the past, O P Bhatt and Bhattacharya had tenures of over four years at the bank. He has been the chairman of the bank since October 2020.