Challa Sreenivasulu Setty to Become New SBI Chairman: FSIB Recommends as Dinesh Khara Retires on August 28

Challa Srinivasulu Setty Recommended as Next Chairman of SBI by FSIB

The Financial Services Institution Bureau (FSIB) has recommended Challa Srinivasulu Setty as the next chairman of the State Bank of India (SBI). FSIB, which operates under the central government, announced on Saturday that considering the current parameters and his extensive experience, the bureau has recommended Challa Srinivasulu Setty for the position of SBI chairman.

Extensive Experience

Setty has over 36 years of experience with SBI. He is currently responsible for the International Banking, Global Markets, and Technology departments. The current chairman of the bank, Dinesh Khara, will retire on August 28 after reaching the age of 63, which is the upper age limit for the chairman position at SBI.

Final Decision by Cabinet Appointment Committee

The responsibility for appointing senior officers in public sector financial institutions lies with FSIB. Following FSIB’s recommendation, the Cabinet Appointment Committee, led by the Prime Minister, makes the final decision. Bhanu Pratap Sharma is the chairman of FSIB.