C S Setty Selected as Next SBI Chairman by FSIB

The Financial Services Institutions Bureau (FSIB) has chosen C S Setty, currently the senior most managing director at SBI, to succeed Dinesh Kumar Khara as the bank's Chairman. Setty will take over on August 28, 2024, following Khara's retirement. The final decision will be made by the Appointments Committee of the Cabinet (ACC).

The Financial Services Institutions Bureau (FSIB) has named C S Setty, SBI's senior most managing director, as the next Chairman of State Bank of India (SBI). Setty, who currently oversees International Banking, Global Markets, and Technology, will succeed Dinesh Kumar Khara. Khara is set to retire on August 28, 2024, upon reaching the upper age limit of 63.

The FSIB, which shortlists leaders for state-owned banks, conducted interviews on June 29 to identify the best fit for the role. Setty was recommended based on his proven track record, extensive experience, and strong performance during the interview process.

Following tradition, the chairman is typically selected from among the serving managing directors of SBI. The Bureau's recommendation will be forwarded to the Appointments Committee of the Cabinet (ACC), led by Prime Minister Narendra Modi, for final approval.

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