On August 6, the Appointments Committee of the Cabinet approved significant leadership changes at the State Bank of India (SBI). Challa Sreenivasulu Setty, currently the Managing Director of SBI, has been appointed Chairman of the bank for a three-year term starting August 28, 2024, or upon taking charge.
Key Appointments
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- Challa Sreenivasulu Setty: Appointed as Chairman of SBI, Setty will transition from his current role as Managing Director. He is responsible for international banking, global markets, and technology departments within the bank.
- Rana Ashutosh Kumar Singh: Appointed as the new Managing Director of SBI. Singh, who is currently the Deputy Managing Director, will begin his tenure upon assuming office and continue until June 30, 2027, or until further notice.
These appointments are expected to bring a new direction to the leadership of SBI, influencing the bank’s strategic and operational decisions in the coming years.