A man checks his mobile phone in front of a State Bank of India (SBI) branch in Kolkata, India, February 9, 2018.
REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsNEW DELHI, Aug 26 (Reuters) - India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system's assets, a government official said on Saturday.
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.
Chiefs of state-run banks are generally appointed for three years and can be given an extension based on their performance.
Persons:
Dinesh Khara, Aditi Shah, Christina Fincher
Organizations:
State Bank of India, REUTERS, DELHI, SBI, Chiefs, Thomson
Locations:
Kolkata, India