CS Setty takes over as new Chairman of SBI

New Delhi: Challa Sreenivasulu Setty on Wednesday assumed charge as Chairman of the country's largest lender State Bank of India (SBI).

He succeeds Dinesh Khara, who superannuated from services of the bank at the closing of business hours on Tuesday, SBI said in a regulatory filing.

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Prior to becoming chairman, Setty was the senior-most managing director of the bank.

As per the convention, the chairman is appointed from a pool of serving managing directors of SBI. Usually, the senior-most managing director becomes chairman of the bank.

Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank’s retail and digital banking portfolio.

A Bachelor of Science in Agriculture and a Certified Associate of the Indian Institute of Bankers, Setty began his career with SBI in 1988 as a Probationary Officer.

Across a career spanning over three decades, he has rich experience in corporate credit, retail, digital and international banking and banking in developed markets.

Setty has held key assignments in State Bank of India, including Deputy Managing Director - Stressed Assets Resolution Group, Chief General Manager and General Manager in Corporate Accounts Group, Deputy General Manager in Commercial Branch, Indore and VP & Head (Syndications) in SBI, New York Branch.

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