Challa Sreenivasulu Setty appointed as MD of SBI

Challa Sreenivasulu Setty, who is currently serving as the Deputy managing director of the country’s largest lender, has been appointed as the managing director of the State bank of India for a period of three years as per the official order released on Monday, 20th January 2020. The appointment was approved by the appointments committee of the cabinet following the proposal of the Department of the Financial Services (under the Ministry of Finance). Earlier during 2019, the managing director of State Bank of India, Anshula Kant was appointed as the managing director and Chief Financial Officer of the international financial organization, World Bank Group, following her departure the post was vacant in the largest public sector bank of India. Sreenivasulu Setty will be in charge for a period of three years from the date of joining, which can be extended by a period of 2 years based on the review of his performance by further orders of the Appointments Committee of the Cabinet.

Month: Current Affairs - January, 2020