India may raise retirement age of officials at state lenders

Soon, chairpersons and managing directors of India's state-owned banks can retire at a later age. Reports suggest that the government is considering a proposal to raise the age-limit for these officials. The age limit for state-run bank chiefs is much lower than their private sector peers, who retire at 70. Analysts have cited lower retirement age as a reason for the lack of continuity in strategy at state-owned lenders.