New Delhi17 minutes ago
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Srinivasulu Setty has been made the new chairman of the bank in place of Dinesh Khara.
Challa Srinivasulu Setty has become the new chairman of State Bank of India (SBI). SBI gave this information in a regulatory filing on Wednesday (28 August).
Srinivasulu Setty has been appointed as the new chairman of the bank in place of Dinesh Khara. Dinesh Khara retired on Tuesday after turning 63. 63 years is the upper age limit for the post of chairman of SBI.
Sethi has over 36 years of experience in SBI
Before becoming the chairman, Setty was the most senior managing director of the bank. Setty has more than 36 years of experience in SBI. He was in charge of international banking, global markets and technology departments.
Sethi’s name was recommended by FSIB
2 months ago, the Financial Services Institutions Bureau (FSIB) had recommended the name of Challa Srinivasulu Setty as the next Chairman of SBI.
FSIB, which comes under the central government, had said that keeping in view the existing parameters and his total experience, the bureau recommends Challa Srinivasulu Setty for the post of Chairman of SBI.
The Appointments Committee of the Cabinet takes the final decision
FSIB has the responsibility of appointing senior officials in public sector financial institutions. After the recommendation of FSIB, the Appointments Committee of the Cabinet headed by the Prime Minister takes the final decision. The Chairman of FSIB is Bhanu Pratap Sharma, former Secretary of the 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. The government has a 56.92% stake in SBI. It was founded on 1 July 1955. The bank is headquartered in Mumbai. With a quarter market share, it has more than 22,405 branches and more than 48 crore customers. The bank operates in 29 countries of the world. It has 235 branches outside India.
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