FSIB Recommends Challa Sreenivasulu Setty as Next Chairman of SBI


The Financial Services Institutions Bureau (FSIB), responsible for appointing senior executives to public sector financial institutions, has recommended Shri Challa Sreenivasulu Setty as the next Chairman of the State Bank of India (SBI). This recommendation is a notable achievement for Telangana, as Shri Setty hails from this state.

Shri Challa Sreenivasulu Setty brings 36 years of extensive experience with SBI. He joined the SBI Board as Managing Director in January 2020 and currently oversees International Banking, Global Markets, and Technology verticals. Before this role, he led the Retail and Digital Banking vertical. Additionally, he has been involved in various task forces and committees formed by the Government of India.

Shri Setty began his career with SBI in 1988 as a Probationary Officer. He holds a Bachelor of Science degree in Agriculture and is a Certified Associate of the Indian Institute of Bankers. Over his three-decade career, he has gained vast experience in corporate credit, retail, digital, and international banking, as well as banking in developed markets.

Throughout his tenure at SBI, Shri Setty has held several key positions, including Deputy Managing Director of the Stressed Assets Resolution Group, Chief General Manager, and General Manager in the Corporate Accounts Group. He also served as Deputy General Manager in the Mid Corporate group and Vice President & Head (Syndications) at SBI’s New York Branch.

Shri Setty will assume his new role on the day the current Chairman retires. The term of the current Chairman will end in August 2024.

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