Challa Srinivasulu Setty becomes the new Chairman of SBI: Setty has more than 36 years of experience in SBI, 63 year old Dinesh Khara retires.

Challa Srinivasulu Setty has become the new chairman of State Bank of India i.e. SBI. SBI gave this information in its regulatory filing on Wednesday (28 August).

Srinivasulu Setty has been made 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.

Setti has more than 36 years of experience in SBI.

Before becoming chairman, Setty was the senior most managing director of the bank. Setty has over 36 years of experience in SBI. He looked after the International Banking, Global Markets and Technology departments.

FSIB had recommended Setti’s name

Two months ago, the Financial Services Institution 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 mind the existing parameters and his total experience, the bureau recommends Challa Srinivasulu Setty for the chairman of SBI.