Challa Sreenivasulu Setty has been selected as the next chairman of State Bank of India (SBI) by the Financial Services Institution Bureau (FSIB). The two other contenders were Ashwini Tiwari and Vinay Tonse. CS Setty will succeed current chairman Dinesh Khara, whose term ends on August 28.
- FSIB is a government body set up under the Department of Financial Services (DFS), Ministry of Finance.
- The primary role of FSIB is to identify manpower capabilities and ensure proper selection of talent for senior positions at financial institutions owned by the government.
CS Setty is managing director at SBI. Setty has worked at SBI for about 35 years and heads international banking, global markets and technology. He took charge as MD of SBI in January 2020. He holds a Bachelor of Science in Agriculture and is a certified associate of the Indian Institute of Bankers.
In SBI, only SBI man is allowed to become Chairman whereas in nationalized banks, it is not so. A person from other bank including SBI, can become MD/Chairman of a nationalised bank.When such is case,Why other bank persons are not allowed in SBI to become MD/Chairman.