The new chairman of the country’s largest bank, State Bank of India (SBI) will now be C S Setty (Challa Srinivasulu Setty). The government on Tuesday appointed Setty as the new chairman of SBI. He will replace the current chairman of the bank Dinesh Kumar Khara on August 28. A government order said that the Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services to appoint Challa Srinivasulu Setty as the Chairman of SBI for a term of three years from the date of assuming charge.
Khara will retire on August 28
According to the report, Khara will retire on August 28 when he will turn 63, the maximum age limit for the SBI chairman post. Also, the government has appointed Rana Ashutosh Kumar Singh to take over as managing director (MD) in SBI. SBI, the country’s largest lender, has one chairman assisted by four MDs. Another order said Singh, who is currently DMD, will take over as MD till June 30, 2027, the retirement age.
Started career with SBI in 1988
Setty, who also headed various task forces and committees constituted by the Government of India, had previously looked after the retail and digital banking portfolio of the bank. A Bachelor of Science in Agriculture and a Certified Associate of the Indian Institute of Bankers, he started his career with SBI as a Probationary Officer in 1988. He has rich experience in corporate credit, retail, digital and international banking and banking in developed markets.
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