CS Setty is New SBI Chairman; Succeeds Dinesh Khara

New Delhi: Challa Sreenivasulu Setty took over as the new chairman of State Bank of India (SBI) as Dinesh Khara retired as the chairman of the nationalized bank on Wednesday.

Prior to becoming chairman, C S Setty was the senior-most managing director of the bank. In the past, he held key assignments, 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.

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.

Dinesh Khara was appointed as the SBI chairman on October 7, 2020 for three years. However, his tenure was extended for another year.