The Financial Services Institutions Bureau has recommended Challa Sreenivasulu Setty as the next Chairman of the State Bank of India. The new chairman will start duty on Aug. 28, 2024.
“Keeping in view their performance in the interface, their overall experience, and the extant parameters, the Bureau recommends Shri Challa Sreenivasulu Setty for the position of Chairman in SBI,” FSIB, which is under the central government, said in a statement released on Saturday.
Recommendation for the position of Chairman in State Bank of India. Official Announcement onhttps://t.co/AEcyakCCQ9 pic.twitter.com/29NdHpGjAL
June 29, 2024Setty has over 36 years of experience in SBI and is considered among the senior-most contenders.
Dinesh Khara, the current bank chairman, will be superannuating on Aug. 28 after turning 63, which is the upper age limit for the position of SBI Chairman.
FSIB is responsible for the appointment of senior executives to public sector financial institutions and has been given the responsibility to recommend the next SBI chairman. After the recommendation from FSIB, the Appointment Committee of the Cabinet, headed by Prime Minister Narendra Modi, will make the final decision.
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