Banks Board Bureau to hold a meeting on Friday to discuss appointment of SBI Chairman

The Banks Board Bureau (BBB) will take up the issue of the vacancy of the chairman’s post at the State Bank of India (SBI), during a scheduled meeting on Friday.

There are four candidates in consideration for the top job, including current chairman, Rajnish Kumar, whose term expires in October, according to reports.

The agenda also included the review of 14 applications received for the post of managing director and CEO of IFCI and the review of eligible candidates for the position of executive director in multiple public sector banks (PSBs).

Kumar who is currently serving on extension post-retirement, had taken up the job on October 7, 2017 at the age of 62, after the Appointments Committee of the Cabinet approved his appointment for a period of three years.

As per the statutes, the chairman or CEO of a PSB can continue in service till the age of 65.

Three other managing directors of SBI, Dinesh Kumar Khara, Arijit Basu and CS Setty are likely to be interviewed for the chairman’s post via video conference during Friday’s meeting, reports said.

It would be unprecedented for a chairman to be part of the interview panel for a position they already hold.

Earlier this month, Ajay Tyagi, chairman of the Securities and Exchange Board of India, was given an 18-month extension of tenure till February 2022, the second extension he received.