Govt mulling to relax retirement age of LIC chairman, PSB chiefs

The current retirement age of chiefs of PSBs is 60 years, which is likely to be hiked to 62 years, as per reports, quoting sources.

New Delhi: The government is considering relaxing the retirement age of heads of all public sector banks (PSBs) and Life Insurance Corporation (LIC).

According to reports, State Bank of India (SBI) Chairman Dinesh Khara may get an extension. He had taken charge as SBI chief in October 2020 for three years. As per norms, the SBI Chairman can hold the post until the age of 63. Khara will turn 63 in August next year.

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The current retirement age of chiefs of PSBs is 60 years, which is likely to be hiked to 62 years, as per reports, quoting sources.

Similarly, there is a proposal to raise the retirement age of LIC Chairman to 65 years from the current 62 years.