Challa Srinivasulu Setty has become the new Chairman of State Bank of India i.e. SBI. SBI disclosed this in its regulatory filing on Wednesday (August 28). Srinivasulu Setty has been made the new chairman of the bank replacing Dinesh Khara. Dinesh Khara retired on Tuesday after turning 63. The upper age limit for the post of Chairman of SBI is 63 years. Setty has more than 36 years of experience at SBI before becoming the Chairman Setti was the Bank's most senior Managing Director. Setty has over 36 years of experience in SBI. He was handling the International Banking, Global Markets and Technology divisions. FSIB recommends Setty's name Two months ago, the Financial Services Institutions Bureau (FSIB) recommended the name of Challa Srinivasulu Setty as the next chairman of SBI. The FSIB, which comes under the central government, said that considering the existing parameters and his total experience, the bureau recommends Challa Srinivasulu Setty for the chairmanship of the SBI. The Cabinet Appointments Committee takes the final decision FSIB is responsible for appointing senior officers in public sector financial institutions. Following the FSIB's recommendation, the Appointments Committee of the Cabinet headed by the Prime Minister takes the final decision. FSIB is chaired by Bhanu Pratap Sharma, former secretary, Department of Personnel and Training. SBI is the largest bank in the country State Bank of India is the largest government bank in the country. Government holds 56.92% stake in SBI. It was established on 1 July 1955. The bank is headquartered in Mumbai. It has more than 22,405 branches and more than 48 crore customers with one-fourth market share. The bank operates in 29 countries of the world. It has 235 branches outside India.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
Challa Srinivasulu Setty New SBI Chairman: Over 36 years of experience in SBI, 63-year-old Dinesh Khara retires
