The Government of India on Thursday, October 5, extended State Bank of India chairman Dinesh Khara's tenure till August 2024. Currently, the retirement age for the SBI chairman is capped at 63. Khara will turn 63 in August 2024. His current term was set to end in October.
Earlier, CNBC-TV18 had reported, citing sources, that the SBI chairman was expected to have his tenure extended by another 10 months. Khara was appointed as the chairman of India's largest lender on October 7, 2020.
Khara joined SBI as a probationary officer in 1984. Before assuming the role of SBI chairman, he had served as the managing director of the bank, overseeing global banking and SBI subsidiaries, among other responsibilities.
Also Read: Lupin gets tentative nod from USFDA for tolvaptan tablets used to treat low sodium levels in blood
The state-owned lender's Managing Director (MD) Ashwini Kumar Tewari, whose current term ends on January 27, 2024, has also been granted a two-year extension.
The State Bank of India reported a 178 percent rise in net profit at Rs 16,884 crore for the April-June quarter of the financial year 2024, up from Rs 6,068 crore in the previous year.
SBI share price ended nearly a percent higher on Thursday.
Also Read: Adani Wilmar Q2 Update: FMCG company sees strong volume growth on rural boost, but sales value drops
First Published: Oct 5, 2023 7:14 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Prajwal Revanna's father in custody for alleged kidnapping and sexual abuse
May 4, 2024 7:53 PM
Delhi, Indore, Surat and Banswara — why these are the most challenging domains for Congress internally
May 4, 2024 1:53 PM
Congress nominee from Puri Lok Sabha seat withdraws, citing no funds from party
May 4, 2024 12:00 PM
Lok Sabha Polls '24 | Rahul Gandhi in Rae Bareli, why not Amethi
May 4, 2024 9:43 AM