FSIB recommends Challa Sreenivasulu Setty as next SBI Chairman to replace Dinesh Khara

The Financial Services Institutions Bureau (FSIB) has recommended Challa Sreenivasulu Setty as the next State Bank of India (SBI) Chairman. 

The current Chairman of SBI Dinesh Khara is set to retire on August 28. Setty will start duty on the same day as Khara’s retirement. 

The FSIB, responsible for appointing senior executives to public sector financial institutions, has been entrusted with the task of recommending the next SBI chairman. 

In a statement, FSIB said, “Keeping in view their performance in the interface, their overall experience, and the extant parameters, the Bureau recommends Shri Challa Sreenivasullu Setty for the position of Chairman in SBI.” 

The body interviewed three candidates on June 29 for the post. Last month, the interview was unexpectedly postponed without disclosing any specific reason.

Among the contenders, Setty is the most senior, with nearly 36 years of service at SBI. The other two MDs who were interviewed are Ashwini Kumar Tewari and Vinay M Tonse.

As per the convention, the chairman is appointed from a pool of serving managing directors of SBI. FSIB will recommend the name and the final decision would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.