New Delhi: The government's appointment selection panel, FSIB, on Saturday selected top managing director Challa Sreenivasulu Setty for the post of chairman of the country's largest lender State Bank of India (SBI).
Setty, who was appointed CEO in January 2020, currently covers the International Banking, Global Markets and Technology verticals.
He will succeed Dinesh Kumar Khara, who will retire on August 28, when he turns 63, the upper age limit for the post of SBI president.
The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, interviewed three candidates on June 29, 2024 for the position.
"Taking into account his performance at the interface, his overall experience and existing parameters, the Bureau recommends Challa Sreenivasulu Setty for the post of SBI Chairman," the FSIB said in a statement.
As per convention, the chairman is appointed from a pool of serving SBI CEOs. Typically, the highest-ranking CEO becomes president of the bank.
The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.
Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank's retail and digital banking portfolio.
A graduate in Agricultural Sciences and a certified associate of the Indian Institute of Bankers, he began his career with the SBI in 1988 as a probationary officer.
Over a career spanning more than three decades, he has rich experience in corporate credit, retail banking, digital and international banking, and banking in developed markets.
Setty has held key positions at State Bank of India, including Deputy General Manager of Stressed Asset Resolution Group, Chief General Manager and General Manager of Corporate Accounts Group, Deputy General Manager of Commercial Branch, Indore and Vice President and Head (Unions) at SBI. New York branch.
The FSIB is headed by Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT).
The members of the government-appointed selection panel are the Secretary of Financial Services, the Secretary of the Department of Public Enterprises and a deputy governor of the RBI.
Other members of the headhunt are Animesh Chauhan, former chairman and managing director of erstwhile Oriental Bank of Commerce, former RBI CEO Deepak Singhal and Shailendra Bhandari, former managing director of erstwhile ING Vysya Bank.
Setty, who was appointed CEO in January 2020, currently covers the International Banking, Global Markets and Technology verticals.
He will succeed Dinesh Kumar Khara, who will retire on August 28, when he turns 63, the upper age limit for the post of SBI president.
The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, interviewed three candidates on June 29, 2024 for the position.
"Taking into account his performance at the interface, his overall experience and existing parameters, the Bureau recommends Challa Sreenivasulu Setty for the post of SBI Chairman," the FSIB said in a statement.
As per convention, the chairman is appointed from a pool of serving SBI CEOs. Typically, the highest-ranking CEO becomes president of the bank.
The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.
Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank's retail and digital banking portfolio.
A graduate in Agricultural Sciences and a certified associate of the Indian Institute of Bankers, he began his career with the SBI in 1988 as a probationary officer.
Over a career spanning more than three decades, he has rich experience in corporate credit, retail banking, digital and international banking, and banking in developed markets.
Setty has held key positions at State Bank of India, including Deputy General Manager of Stressed Asset Resolution Group, Chief General Manager and General Manager of Corporate Accounts Group, Deputy General Manager of Commercial Branch, Indore and Vice President and Head (Unions) at SBI. New York branch.
The FSIB is headed by Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT).
The members of the government-appointed selection panel are the Secretary of Financial Services, the Secretary of the Department of Public Enterprises and a deputy governor of the RBI.
Other members of the headhunt are Animesh Chauhan, former chairman and managing director of erstwhile Oriental Bank of Commerce, former RBI CEO Deepak Singhal and Shailendra Bhandari, former managing director of erstwhile ING Vysya Bank.
