Challa Sreenivasulu Setty.
The Appointments Committee of the Cabinet has approved the proposal for the appointment of Challa Sreenivasulu Setty as chairman of SBI for a period of three years with effect from the date of assumption of charge.
The government has appointed C S Setty as chairman of State Bank of India (SBI), the country’s biggest lender, for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28.
The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Challa Sreenivasulu Setty as chairman of SBI for a period of three years with effect from the date of assumption of charge, according to a government order.
Khara will be superannuating on August 28, when he turns 63, the upper age limit for the position of SBI chairman.
Besides, the government has also appointed Rana Ashutosh Kumar Singh to take over as managing director (MD) at SBI.
SBI, the country’s largest lender, has a chairman assisted by four MDs.
Singh, currently DMD, will serve as MD on June 30, 2027, the age of superannuation, another order said.
Who Is Challa Sreenivasulu Setty?
Setty, who also headed various task forces and committees formed by the Government of India, had earlier looked after the retail and digital banking portfolio of the bank.
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, with an assignment at its Baroda branch.
He has rich experience in corporate credit, retail, digital and international banking and banking in developed markets.
Setty, who was born on September 26, 1965, in a Telugu family, has served over 35 years at various levels in the State Bank of India.
On June 29, 2024, the Financial Services Institutions Bureau selected him as the 27th chairman of SBI to succeed Dinesh Kumar Khara in August 2024.
