new chairman of state bank of india

• The proposal to appoint Challa Srinivasulu Setty as SBI chairman has been approved by the Appointments Committee of the Cabinet (ACC).

• His appointment will be effective for a term of three years from the date he assumes charge, on or after August 28, or until further orders, whichever is earlier.

• He was serving as SBI managing director, heading global markets and technology.

• His name was recommended by the Financial Services Institutions Bureau (FSIB) in June this year for appointment as SBI chairman.