Business: The Financial Services Institutions Bureau (FSIB) on Saturday elected SBI’s most senior managing director CS Setty as the chairman of SBI. Setty is currently the managing director of SBI, looking after international banking, global markets and technology sectors. He will replace Dinesh Kumar Khara, who will retire on August 28, when he turns 63, the upper age limit for the post of SBI chairman. FSIB, the body that looks for directors of public sector banks and financial institutions, interviewed 3 candidates for the post on June 29, 2024. “Taking into consideration his performance in the interface, his overall experience and the existing parameters, the Bureau recommends
Challa Srinivasulu Setty for the post of Chairman in SBI,” FSIB said in a statement. As per tradition, the chairman is appointed from among the existing managing directors of SBI. The FSIB will recommend the name to the Appointments Committee of the Cabinet (ACC), which will take the final decision in this regard. The ACC is chaired by Prime Minister Narendra Modi. The chairman of the FSIB is Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT). Bureau The members of the CWC include Financial Services Secretary, Department of Public Enterprises Secretary and RBI Deputy Governor. Other members include former Oriental Bank of Commerce Chairman and MD Animesh Chauhan, former RBI Executive Director Deepak Singhal and former ING Vysya Bank MD Shailendra Bhandari.
