C S Setty Appointed as Chairman of SBI, Replacing Dinesh Kumar Khara

The government has appointed C S Setty as the new chairman of State Bank of India, effective August 28. He will replace the outgoing chairman, Dinesh Kumar Khara. The appointment, approved by the ACC, also includes Rana Ashutosh Kumar Singh as the new managing director of the bank.

The government on Tuesday named C S Setty as the new Chairman of State Bank of India (SBI), the country's largest lender, for a period of three years. Setty, who is currently the senior most Managing Director (MD) at SBI, will assume his new role on August 28, replacing incumbent chairman Dinesh Kumar Khara.

The Appointments Committee of the Cabinet (ACC) approved the Department of Financial Services' proposal, confirming Setty's new position effective from the date he assumes charge. Khara will retire on August 28 upon reaching the upper age limit of 63 for the position of SBI chairman.

In addition, Rana Ashutosh Kumar Singh has been appointed as Managing Director of SBI. Singh, who is currently serving as Deputy Managing Director (DMD), will hold the MD post until his retirement on June 30, 2027. Setty, who boasts a rich background in multiple banking sectors, started his career with SBI in 1988 and has notable experience in corporate credit, retail, digital, and international banking.