New Delhi: The Financial Services Institutions Bureau (FSIB) on Saturday selected SBI's senior-most managing director C S Setty for the post of SBI Chairman.
Setty is currently the Managing Director of SBI, looking after the International Banking, Global Markets and Technology verticals.
He will succeed Dinesh Kumar Khara, who will retire on August 28 when he turns 63, which is the upper age limit for the post of SBI chairman.
FSIB, which searches for directors of state-owned banks and financial institutions, interviewed 3 candidates for the post on June 29, 2024.
"Considering his performance at the interface, his overall experience and the existing parameters, the Bureau has recommended Challa Srinivasulu Setty for the post of Chairman in SBI," FSIB said in a statement.
As per tradition, the Chairman is appointed from a group of serving Managing Directors of SBI. The FSIB will recommend the name to the Appointments Committee of the Cabinet (ACC) which will take the final decision in this regard. The Chairman of ACC is Prime Minister Narendra Modi.
FSIB is headed by Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT).
Members of the bureau include the Financial Services Secretary, Department of Public Enterprises Secretary and an RBI Deputy Governor.
The other members are former Chairman and MD of erstwhile Oriental Bank of Commerce Animesh Chauhan, former RBI executive director Deepak Singhal and former MD of erstwhile ING Vysya Bank Shailendra Bhandari.
Setty is currently the Managing Director of SBI, looking after the International Banking, Global Markets and Technology verticals.
He will succeed Dinesh Kumar Khara, who will retire on August 28 when he turns 63, which is the upper age limit for the post of SBI chairman.
FSIB, which searches for directors of state-owned banks and financial institutions, interviewed 3 candidates for the post on June 29, 2024.
"Considering his performance at the interface, his overall experience and the existing parameters, the Bureau has recommended Challa Srinivasulu Setty for the post of Chairman in SBI," FSIB said in a statement.
As per tradition, the Chairman is appointed from a group of serving Managing Directors of SBI. The FSIB will recommend the name to the Appointments Committee of the Cabinet (ACC) which will take the final decision in this regard. The Chairman of ACC is Prime Minister Narendra Modi.
FSIB is headed by Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT).
Members of the bureau include the Financial Services Secretary, Department of Public Enterprises Secretary and an RBI Deputy Governor.
The other members are former Chairman and MD of erstwhile Oriental Bank of Commerce Animesh Chauhan, former RBI executive director Deepak Singhal and former MD of erstwhile ING Vysya Bank Shailendra Bhandari.
