CHALLA SREENIVASULU SETTY APPOINTED AS NEXT SBI CHAIRMAN
New Delhi: SBI's senior most managing director CS Setty was selected by the Financial Services Institutions Bureau (FSIB) on Saturday to take the post of SBI Chairman. Setty is currently the managing director of SBI, who takes care of the International Banking, Global Markets, and Technology verticals.
Setty will succeed Dinesh Kumar Khara, who will be turning 63 on August 28, which is the upper age limit for the position of SBI chairman. Khara will be superannuating once his birthday arrives, PTI reported.
Three candidates were interviewed on June 29, 2024 for the position by the FSIB, the headhunter for directors of state-owned banks and financial institutions.
FSIB said in a statement: "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."
As per Convention, the chairman is appointed from a pool of serving SBI managing directors. FSIB will recommend the name to the Appointments Committee (ACC), which is headed by PM Modi and will take the final decision in this matter.
The FSIB is headed by Bhanu Pratap Sharma, who is the former secretary of Department of Personnel and Training (DoPT).
As per PTI, the bureau members include the Financial Services Secretary, Department of Public Enterprises Secretary, and an RBI Deputy Governor. Other members include Animesh Chauhan, the former chairman and Managing Director of erstwhile Oriental Bank of Commerce, Deepak Singhal, the RBI's ex-executive director, and Shailendra Bhandari, the former MD of erstwhile ING Vysya Bank.
(With Inputs From PTI)