The Union government has appointed CS Setty or Challa Sreenivasulu Setty as the new chairman of SBI, India's largest commercial bank. He will lead the Rs 721000 crore market cap bank for three years. He is currently the senior-most MD of the bank. Setty will replace incumbent chairman Dinesh Kumar Khara on August 28, when the latter turns 63, the upper age limit for the position of SBI chairman.
India's biggest lender State Bank of India (SBI) has a chairman assisted by four MDs. The Appointments Committee of the Cabinet ACC has approved the proposal of the Department of Financial Services for the appointment of Challa Sreenivasulu Setty as chairman of SBI for a period of three years with effect from the date of assumption of charge, a government order said.
Who is CS Setty?
He is an Indian banker who has served over 35 years at various levels in SBI. The 58-year-old started his career with SBI in 1988 as a Probationary Officer (PO). Born in a Telugu family, Setty holds a Bachelor of Science (B.Sc) degree in Agriculture. He is also a Certified Associate of the Indian Institute of Bankers.
Setty also headed various task forces and committees formed by the Government of India. He had earlier looked after the retail and digital banking portfolio of the bank. He has rich experience in Corporate credit, Retail, Digital and International banking and banking in developed markets.
(With inputs from PTI)
READ | Mukesh Ambani says its Rs 2004000 crore company is ready for...
