{"id":34402,"date":"2023-08-26T17:07:09","date_gmt":"2023-08-26T17:07:09","guid":{"rendered":"https:\/\/gyalchisarshog.com\/?p=34402"},"modified":"2023-08-26T17:09:03","modified_gmt":"2023-08-26T17:09:03","slug":"india-considers-raising-retirement-age-for-state-owned-bank-bosses","status":"publish","type":"post","link":"https:\/\/gyalchisarshog.com\/?p=34402","title":{"rendered":"India considers raising retirement age for state-owned bank bosses"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Reuters:   <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NEW DELHI, Aug 26  &#8211; India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system&#8217;s assets, a government official said on Saturday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The proposal under consideration is to raise the age limit for the chairman of the country&#8217;s largest lender, State Bank of India (SBI) <a href=\"https:\/\/www.reuters.com\/markets\/companies\/SBI.NS\" target=\"_blank\" rel=\"noreferrer noopener\">(SBI.NS)<\/a>, to 65 years from 63 years, and that for managing directors of other state-owned banks to 62 years from 60, the official said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SBI is governed by separate legislation from other government-owned banks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The plan is still being considered. A final decision has not been taken,&#8221; the official said, declining to be named as discussions are ongoing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The age limit for state-run bank chiefs is much lower than their private sector peers, who retire at 70 and have longer tenors. Analysts have often cited this as a reason for a lack of continuity in strategy at state-owned lenders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Chiefs of state-run banks are generally appointed for three years and can be given an extension based on their performance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Separately, the government is planning to give a 10-month extension to present SBI Chairman Dinesh Khara who is slated to retire in October-end, the official said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters: NEW DELHI, Aug 26 &#8211; India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system&#8217;s assets, a government official said on Saturday. The proposal under consideration is to raise the age limit for the chairman of the country&#8217;s largest lender, State Bank of India (SBI) (SBI.NS), to 65 years from 63 years, and that for managing directors of other state-owned banks to 62 years from 60, the official said. SBI is governed by separate legislation from other government-owned banks. &#8220;The plan is still being considered. A&#8230; <\/p>\n","protected":false},"author":1,"featured_media":34405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-34402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/34402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34402"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/34402\/revisions"}],"predecessor-version":[{"id":34404,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/34402\/revisions\/34404"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/34405"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}