C S Setty takes over as SBI chairman

New Delhi: Challa Sreenivasulu Setty on Wednesday assumed charge as Chairman of the country's largest lender State Bank of India (SBI).

He succeeds Dinesh Khara, who superannuated from services of the bank at the closing of business hours on Tuesday, SBI said in a regulatory filing.

Prior to becoming chairman, Setty was the senior-most managing director of the bank.

As per the convention, the chairman is appointed from a pool of serving managing directors of SBI. Usually, the senior-most managing director becomes chairman of the

bank. Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank’s retail and digital banking portfolio.

Setty began his career with SBI in 1988 as a Probationary Officer.