New Delhi: The central government has approved the appointment of a new Chairman and <keyword id="19899229" type="General" weightage="20" keywordseo="Managing-Director" source="keywords">Managing Director</keyword> of the <keyword id="19934368" type="General" weightage="100" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> (<keyword id="19898108" type="General" weightage="20" keywordseo="sbi" source="keywords">SBI</keyword>) as the current Chairman, <keyword id="20944427" type="General" weightage="20" keywordseo="Dinesh-Kumar-Khara" source="keywords">Dinesh Kumar Khara</keyword>, is set to retire on August 28. According to a notification by the Department of Personnel &amp; Training, the Appointments Committee of the Cabinet (ACC) on August 6 approved the proposal of the Department of Financial Services for the appointment of <keyword id="22230591" type="General" weightage="20" keywordseo="Challa-Sreenivasulu-Setty" source="keywords">Challa Sreenivasulu Setty</keyword> as chairman of SBI. The ACC has approved the appointment of Setty, 59, the current Managing Director (MD) of SBI as the new Chairman of the country's biggest lender, for a period of three years, effective from the date he assumes office, on or after August 28, 2024. The government order states, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Shri Challa Sreenivasulu Setty (DOB: 26.09.1965), Managing Director (MD), State Bank of India (SBI) as Chairman, SBI for a period of three (03) years w.e.f. the date of assumption of charge of the office, on or after 28.08.2024." Additionally, Rana Ashutosh Kumar Singh, the current Deputy Managing Director (DMD) of SBI, has been appointed as the new Managing Director. His appointment will take effect from the date he assumes office. The government order read, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office." According to SBI, Challa Sreenivasulu Setty joined the Board of SBI as Managing Director in January 2020 and currently oversees International Banking, Global Markets, and Technology wings of the Bank. He has previously headed the Retail &amp; Digital Banking vertical and various task forces/committees formed by the Government of India. Setty holds a Bachelor of Science in Agriculture and is a Certified Associate of the Indian Institute of Bankers. He began his career with SBI in 1988 as a Probationary Officer. Over his three-decade-long career, he has gained rich experience in corporate credit, retail, digital, and international banking, as well as banking in developed markets. Setty has also held key positions within SBI, including Deputy Managing Director - Stressed Assets Resolution Group, Chief General Manager, and General Manager in the Corporate Accounts Group, Deputy General Manager in the Mid-Corporate Group, and Vice President &amp; Head (Syndications) at SBI's New York Branch. (ANI)

Centre approves appointments of new Chairman, Managing Director of State Bank of India

Mumbai, Jan 21 () The State Bank of India (SBI) on Tuesday said Challa Sreenivasulu Setty has taken charge as the Managing Director of the bank, effective January 20. 
 Prior to this role, he was designated as the Deputy Managing Director at the bank, handling stressed assets portfolio, a press release said.
 Setty has over three decades of experience in various functional areas of banking and held various positions at SBI, including Vice President and Head (syndications) in New York branch, Deputy General Manager (commercial branch), Indore and General Manager (corporate account group), Mumbai branch.
 He had joined as Probationary Officer in 1988 in SBI's Ahmedabad Circle. 
 Setty's appointment was approved by the Personnel Ministry on Monday.
 The ministry also appointed Sanjiv Chadha as MD and CEO of Bank of Baroda, L V Prabhakar as MD and CEO of Canara Bank and A K Das as MD and CEO of Bank of India. HV RVK

Setty takes charge as MD of SBI

<ul><li><keyword id="9155468" type="General" weightage="20" keywordseo="alok-kumar-choudhary" source="Orion">Alok Kumar Choudhary</keyword> was promoted from deputy managing director to Managing Director (MD) of State Bank of India on Tuesday.</li><li>As the MD, Choudhary will be handling retail business and operations in his new role.</li></ul>Seasoned banker Alok Kumar Choudhary was appointed as the managing director of India’s largest public lending institution State Bank of India on June 07, 2022. He was the Deputy MD (DMD) of finance at the bank. After three and a half decades with the bank, Choudhary will be now responsible for spearheading retail business and operations at <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword> for two years. He will report to the chairman Dinesh Kumar Khara. This move comes months after the Banks Board Bureau (BBB) <a href="https://www.business-standard.com/article/finance/bbb-recommends-alok-choudhary-for-sbi-managing-director-post-122031601405_1.html#:~:text=The%20Banks%20Board%20Bureau%20(BBB,of%20State%20Bank%20of%20India.&amp;text=20%3A19%20IST-,The%20Banks%20Board%20Bureau%20(BBB)%20on%20Wednesday%20recommended%20the%20name,of%20State%20Bank%20of%20India.">recommended </a>Alok Kumar Choudhary for the post of MD in March after interviewing 21 candidates for the position. He joins three other MDs at SBI Swaminathan Janakiraman, Challa Sreenivasulu Setty, and Ashwini Kumar Tewari. Choudhary will replace Ashwini Bhatia, who has been appointed a whole-time member of the Securities and Exchange Board of India (Sebi). Bhatia had joined the bank three years before Choudhary in 1985. The newly appointed MD began his career at the bank in 1987 as a probationary officer and has held various titles over the years across geographies. He was the chief general manager for three years of the bank’s Delhi circle. He has also held the title of GM in Network I of Ahmedabad, deputy general manager in Delhi, as DGM and corporate development officer at North-East Circle. This move comes soon after SBI rejigged its top leadership and appointed <a href="https://www.timesnownews.com/business-economy/industry/new-leadership-at-psbs-sbi-promotes-7-cgms-as-dmds-article-92004627">seven new</a> DMDs. Sankar Bala Bhadrapatruni, Ruma Dey, Amitava Chatterjee, Shamsher Singh, Vidya Krishnan, Gulshan Malik and Pravin Raghavendra were promoted from the position of chief general manager (CGMs) to DMDs at SBI. The lender has also elevated 29 general managers as CGMs. New leadership across Public Sector Banks (PSBs) Along with SBI’s Choudhary, Union Bank of India, Indian Overseas Bank and Punjab and Sind Bank shuffled their<a href="https://www.timesnownews.com/business-economy/industry/new-leadership-at-psbs-sbi-promotes-7-cgms-as-dmds-article-92004627"> senior leadership team.</a> Canara bank’s executive director A Manimekhalai moved to Union Bank of India as MD and CEO. Indian Overseas Bank appointed Ajay Kumar Srivastava took over as MD and CEO. Punjab and Sind Bank brought Swarup Kumar onboard as MD and CEO.

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Centre approves appointments of new Chairman, Managing Director of State Bank of India

ANI

Setty takes charge as MD of SBI

PTI

India’s biggest lender appoints Alok Kumar Choudhary as new MD soon after top brass rejig

Karuna Sharma