A state-run banks appointment panel recommended Dinesh Kumar Khara, one of the State Bank of India’s (SBI) four Managing Directors, as the next Chairman of India’s top lender.

Unlike his predecessor, SBI’s current Chairman Rajnish Kumar did not get an extension to his term, which ends on October 7 after three years.

The Federal Government will need to approve the Banks Board Bureau’s recommendation before Khara can take the job.

Khara took up his current role, in which he oversees global markets and subsidiaries of SBI, in August 2016 for a three-year period, which was extended for another two years last year.