The Financial Services Institutions Bureau (FSIB) on Saturday (29.06.2024) recommended Challa Sreenivasulu Setty as the next Chairman of the State Bank of India (SBI). The incumbent Chairman Dinesh Khara is scheduled to retire on August 28. The new chairman will assume duties on the same day as Khara’s retirement.
CS Setty is one of the senior-most contenders for the position. He has overseen various critical areas, including managing the ₹1.49 lakh crore stressed assets portfolio during the peak of the bad loan cycle in 2018.
According to reports, other contenders for the role included Ashwini Kumar Tewari and Vinay M. Tonse. The fourth managing director, Alok Kumar Choudhury, is set to retire at the end of June.
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