Government seeks 64 years as retirement age for public sector banks's chiefs

.....Government officials told TOI that the finance ministry has moved a proposal to the Appointments Committee of Cabinet, suggesting that banking being a specialized activity, it needed chairmen and executive directors with at least a five-year term instead of the average tenure of one-two years at present. In fact, it pointed out that in technical departments, the retirement age was already increased to 64 years and argued for a similar dispensation for bank chairmen and managing directors, a move which is being seen as a precursor to raise the superannuation age in government-owned banks over the next few years......

Read - TOI