Govt. Extends SBI Chairman Dinesh Khara's Term Till 2024, Sources Said (Image: sbi.co.in)

The tenure of the chairman of India’s biggest lending bank, the State Bank of India, Dinesh Khara has been extended by ten months. The extension of his tenure is till the month of August 28, 2024, the moneycontrol reported as sources who were in the know said.

Mr. Khara’s appointment as the Chairman of State Bank of India (SBI) came on October 7, 2020 and the tenure was for three years. The sources also said that the extension of tenure has received the PMO’s (Prime Minister’s Office) approval.

As per the SBI rules, the tenure of its Chairman is only for three years. The current Chairman has been asked to hold office till the age of 63. The tenure which has been extended for few more months will be till Mr. Khara turning 63 years of age, said the mint.

The government could issue an order on this matter shortly. On the matter of tenure extension, there was no reply from the Finance Ministry and the SBI yet.

Mr. Khara joined the SBI as a probationary officer in the year 1984. Under his Chairmanship, the SBI has reported strong annual financial profits. He has worked with all the verticals – Retail Credit, SME and Corporate Credit, deposit mobilisation, international banking operations and branch manage. He was also posted at Chicago as part of the Bank’s overseas expansion and has been associated with the acquisition of Indian Ocean International Bank Mauritius.