Challa Srinivasulu Shetty honored with prestigious appointment as SBI Chairman

Challa Srinivasulu Shetty from Gadwal, Telangana, has received a rare honor. The central government has appointed him as the Chairman of the State Bank of India (SBI), the largest public sector bank in India. Currently serving as the Senior Managing Director (MD) at SBI, Srinivasulu will continue in the Chairman role for the next three years, as announced by the government. The Financial Services Institutions Bureau (FSIB) highlighted Srinivasulu Shetty’s performance and extensive experience as the reasons for recommending him for the SBI Chairman position.

Approval Based on FSIB Recommendation

Following the FSIB’s recommendation, the current Chairman, Dinesh Kumar Khara, will retire on August 28. Srinivasulu Shetty will assume the responsibilities on the same day. The government confirmed that the Ministerial Appointments Committee, based on the Financial Services Department’s proposal, has approved Srinivasulu Shetty’s appointment. The maximum age limit for the SBI Chairman role is set at 63 years. It is well-known that the FSIB recommended Challa Srinivasulu Shetty for the SBI Chairman position. Srinivasulu oversees activities related to international banking, global markets, and technology verticals.

Born in Pedapothulapadu, Jogulamba Gadwal District, Telangana, Srinivasulu Shetty obtained a Bachelor of Science degree in Agriculture. He began his career at SBI in 1988 as a Probationary Officer (PO). With nearly 35 years of service at SBI, Srinivasulu Shetty has risen to the highest levels within the bank. The SBI Chairman is appointed from the group of Managing Directors at the bank. The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, makes the final decision based on FSIB’s recommendations.