New-Delhi: Challa Sreenivasulu Setty has been appointed as the Chairman of the State Bank of India (SBI). The Appointments Committee of the Cabinet (ACC) approved the decision on Tuesday.
His tenure will be due to start for three years on or after August 28. Setty will be succeeding current chairman Dinesh Khara, whose term ends on August 28.
Earlier, on June 30, Setty had been selected as the next chairman of State Bank of India (SBI) by the Services Institution Bureau (FSIB), an autonomous body under the central government.
Setty holds a Bachelor of Science degree in Agriculture and is a certified associate of the Indian Institute of Bankers. Prior to his appointment as Managing Director (MD) in 2020, Setty held several significant roles at the State Bank of India (SBI).
Similarly, the ACC approved the appointment of Rana Ashutosh Kumar Singh, currently serving as a Deputy Managing Director (DMD) at SBI, to the position of Managing Director. His tenure will begin on the date he assumes office and will last until he reaches the age of superannuation on June 30, 2027, or until further orders, whichever comes first.