The government on Thursday approved the extension of the tenure of State Bank of India (SBI) chairman Dinesh Khara till August next year, sources said.

The approval comes ahead of the end of his three-year tenure on October 6.

According to the Appointments Committee of the Cabinet (ACC) order, an SBI chairman can hold the post until the age of 63 years.

Khara attains 63 years in August next year, they said.

Besides, sources said, the ACC has also approved the extension of the tenure of Ashwini Kumar Tiwari as the managing director for two years beyond January 27, 2024.

SBI on Wednesday introduced banking through mobile handheld devices for its customers to enhance financial inclusion. The move brings kiosk banking directly to customers’ doorsteps as it offers greater flexibility to customer service point agents, enabling them to reach out to customers, especially for those facing health issues, senior citizens and differently-abled.

RBI gets new ED

The Reserve Bank of India on Wednesday said it has appointed Muneesh Kapur as the executive director (ED).

Kapur will look after the Department of Economic and Policy Research and his appointment as ED is with effect from October 3, 2023, the RBI said in a statement.

Prior to being promoted as ED, Kapur was the adviser-in-charge, Monetary Policy Department, and secretary to the Monetary Policy Committee. Over a span of nearly three decades in the RBI, Kapur has worked in areas of macroeconomic policy and research and monetary policy in the Department of Economic and Policy Research and Monetary Policy Department.

He also served as adviser to executive director, International Monetary Fund, during 2012-15.