Setty takes charge as MD of SBI

Mumbai, Jan 21 () The State Bank of India (SBI) on Tuesday said Challa Sreenivasulu Setty has taken charge as the Managing Director of the bank, effective January 20.

Prior to this role, he was designated as the Deputy Managing Director at the bank, handling stressed assets portfolio, a press release said.

Setty has over three decades of experience in various functional areas of banking and held various positions at SBI, including Vice President and Head (syndications) in New York branch, Deputy General Manager (commercial branch), Indore and General Manager (corporate account group), Mumbai branch.

He had joined as Probationary Officer in 1988 in SBI's Ahmedabad Circle.

Setty's appointment was approved by the Personnel Ministry on Monday.

The ministry also appointed Sanjiv Chadha as MD and CEO of Bank of Baroda, L V Prabhakar as MD and CEO of Canara Bank and A K Das as MD and CEO of Bank of India. HV RVK