Challa Sreenivasulu Setty, Managing Director (MD) of State Bank of India (SBI), has been appointed as Chairman of SBI for three years. According to an order issued by the Department of Personnel and Training (DoPT) on Tuesday (06.08.2024), the Appointments Committee of the Cabinet has approved the appointment of Mr. Setty to the post for three years with effect from the date of assumption of charge of the office, on or after 28.08.2024, or until further orders, whichever is earlier.
Currently, Setty as Managing Director looking after international banking, global markets and technology of the SBI. He was appointed as MD in 2020.
On June 29, the Financial Services Institutions Bureau (FSIB) recommended the name of Setty as the next SBI Chairman after interviewing three candidates. The other two candidates were SBI MDs Ashwini Kumar Tewari and Vinay Tonse.
SBI’s current Chairman Dinesh Kumar Khara is set to retire on August 28, when he turns 63. He was given an extension in October 2023. Khara was appointed the Chairman of SBI on October 7, 2020.
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