Money & Banking

Banks Board Bureau recommends CS Setty as MD of SBI

Our Bureau Mumbai | Updated on October 25, 2019

The Banks Board Bureau (BBB) has recommended the name of Challa Sreenivasuluas a Managing Director (MD) in the State Bank of India (SBI).

Out of four MD positions at SBI, one fell vacant following the appointment of Anshula Kant as the MD and CFO of the World Bank. The other MDs are PK Gupta, Dinesh Kumar Khara and Arijit Basu.

Setty is currently the Deputy MD in-charge of the Stressed Assets Resolution Group.

It has also recommended Ashwani Bhatia, who is currently the MD & CEO of SBI Mutual Fund, as the candidate on the Reserve List for the said MD vacancy.

Once BBB recommends a candidate for board-level appointment in a public sector bank, the Appointment Committee of the Cabinet gives the final approval for the appointment.

The Chairman and members of the BBB interviewed eight Deputy MDs of SBI and nine Executive Directors of nationalised banks on October 23, 2019 for the MD in SBI.

Published on October 25, 2019

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