Challa Sreenivasulu Setty Named as New Chairman of State Bank of India

Challa Sreenivasulu Setty has been selected as the new Chairman of the State Bank of India by the FSIB panel. Setty, who has a rich career with SBI, will succeed Dinesh Kumar Khara. The final decision will be made by the Appointments Committee of the Cabinet.

In a significant move, a government-appointed selection panel, the Financial Services Institutions Bureau (FSIB), has chosen Challa Sreenivasulu Setty as the new Chairman of the State Bank of India (SBI). Setty, the senior-most managing director, is set to succeed Dinesh Kumar Khara, who will retire on August 28.

Setty, who has been a managing director since January 2020, currently oversees International Banking, Global Markets, and Technology at SBI. Throughout his more than three-decade-long career, he has amassed extensive experience across various banking sectors, including corporate credit, retail, digital, and international markets.

The FSIB interviewed three candidates for the position on June 29, 2024, and recommended Setty based on his performance and overall experience. The final approval will come from the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi.

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