The contenders for the post of chairman of State Bank of India (SBI) will have to wait for another interview date.

The Financial Services Institutions Bureau (FSIB) will fix the rescheduled date for the interview after the  new government is formed after 4 June, sources familiar with the development said.

FSIB, the headhunter for directors of state-owned banks and financial institutions, had earlier scheduled the interview for 21 May.

The reasons for deferring the scheduled interview at the last minute could not be ascertained, though some industry watchers say this could have been due to ongoing Lok Sabha elections. 

Dinesh Khara, the current SBI chairman, will be superannuating on 28 August, when he turns 63. This is the upper age limit for the position of SBI chairman.

C.S. Setty and Ashwini Kumar Tewari, the two managing directors of the bank, are the front runners for the post. Vinay M Tonse stands less chance as he was elevated to the role of managing director only in September last year. Alok Kumar Choudhary, the fourth managing director, is set to retire in June-end.  

The chairman of SBI is usually appointed from a pool of serving managing directors at the bank. 

After FSIB recommends the name, the final approval on the post of SBI chairman is taken by the Appointments Committee of the Cabinet (ACC), led by the prime minister.

FSIB is headed by Bhanu Pratap Sharma, former secretary of Department of Personnel and Training (DoPT).

The members of the government-appointed selection panel are Financial Services Secretary, Department of Public Enterprises Secretary and an RBI Deputy Governor.

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.