Government Grants Tenure Extensions to SBI Chairman and MD

The government has granted an extension to State Bank of India (SBI) Chairman, Dinesh Kumar Khara, until August of the next year. Additionally, a two-year extension has been offered to the bank's Managing Director, Ashwini Kumar Tewari.

In an official notification released on Thursday, it was stated that Khara's tenure has been extended until he reaches the age of 63. Born on August 28, 1961, Khara assumed his role as the head of the country's largest lender on October 7, 2020, for an initial term of three years. His current term was slated to conclude on October 6.

"The government hereby extends the term of office of Shri Dinesh Kumar Khara, chairman, State Bank of India beyond 6.10.2023 till he attains the age of 63 years, or until further orders, whichever is earlier," as per the official notification.

Ashwini Kumar Tewari's two-year extension will become effective from January 28, 2024.

Khara, who holds a postgraduate degree in Commerce from Delhi School of Economics, is a seasoned banker with a career spanning nearly four decades at SBI. He also earned an MBA from New Delhi's Faculty of Management Studies.

Under Khara's leadership, SBI has achieved record-breaking quarterly profits, surpassing expectations for the fourth consecutive time, with profits of Rs 16,884 crore in the June 2023 quarter.