Government panel recommends Challa Shetty as next SBI chairman

The Financial Services Institutions Bureau (FSIB) under the Central Government has recommended Challa Srinivasulu Shetty as the next Chairman of State Bank of India (SBI).

The current SBI Chairman Dinesh Khara is set to retire on August 28. The new chairman will take charge on the day of Khara's retirement.

With 36 years of experience in SBI, CS Shetty is one of the most senior contenders. He has overseen several important areas, including management At the peak of the bad loan cycle in 2018, stressed assets stood at Rs 1.49 lakh crore.

According to reports, other contenders for the post included Ashwani Kumar Tewari and Vinay M Tonse. The fourth managing director, Alok Kumar Chaudhary, is set to retire at the end of June.

The FSIB, responsible for appointing senior executives in public sector financial institutions, has been entrusted with the task of recommending the next SBI chairman.

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