FSIB recommends CS Setty as New Chairman of SBI

He will succeed Dinesh Kumar Khara, who will be superannuating on August 28, when he turns 63, the upper age limit for the position of SBI Chairman.

FSIB recommends CS Setty as New Chairman of SBI

The selection panel FSIB has selected senior-most managing director Challa Sreenivasulu Setty for the position of Chairman of the country's largest lender State Bank of India (SBI). Mr. Setty, who was appointed managing director in January 2020, currently looks after International Banking, Global Markets, and Technology verticals.

He will succeed Dinesh Kumar Khara, who will be superannuating on August 28, when he turns 63, the upper age limit for the position of SBI Chairman.

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Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, interviewed three candidates on June 29, 2024, for the position.

"Keeping in view their performance in the interface, their overall experience, and the extant parameters, the Bureau recommends Challa Sreenivasulu Setty for the position of Chairman in SBI," FSIB said in a statement.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. Mr. Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the retail and digital banking portfolio of the bank.

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A Bachelor of Science in Agriculture and also, a Certified Associate of Indian Institute of Bankers, he started his career with SBI in 1988 as a Probationary Officer. Across a career spanning over three decades, he has rich experience in corporate credit, retail, digital and international banking, and banking in developed markets.

Mr. Setty has held key assignments in the State Bank of India, including Deputy Managing Director - Of the stressed Assets Resolution Group, Chief General Manager and General Manager in the Corporate Accounts Group, Deputy General Manager in the Commercial Branch, Indore, and VP & Head (Syndications) in SBI, New York Branch.

 

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