Challa Sreenivasulu Setty: Leading India’s Banking Revolution Since 2024

Challa Sreenivasulu Setty (born September 26, 1965), also known as C. S. Setty, is a banker and the current chairman of State Bank of India, India’s largest public sector bank. He was born in a Telugu family in Peddapothulapadu village in Jogulamba Gadwal district of Telangana state and completed his schooling in government schools.

Quick Facts About Challa Sreenivasulu Setty

Who Is Challa Sreenivasulu Setty? The Man Behind SBI

Every great institution needs a visionary leader, and that’s where Challa Sreenivasulu Setty comes into the picture. Imagine starting your career in 1988 as a fresh probationary officer and eventually steering India’s largest bank—that’s the inspiring journey of Challa Sreenivasulu Setty.

His story is not about inherited wealth or family connections; it’s about determination, knowledge, and years of hard work in the banking sector.

Educational Background and Early Career

Challa Sreenivasulu Setty earned his Bachelor of Science degree in agriculture from the Acharya N. G. Ranga Agricultural University (ANGRAU). While studying agriculture might seem unrelated to banking, this diverse educational foundation helped him understand the real-world needs of India’s economy, especially the agricultural sector—crucial for a banker serving a nation like India.

He began his career at the State Bank of India in 1988 as a probationary officer, starting his banking career with an assignment at the Bardoli, Surat branch of the State Bank of India. This modest beginning at a branch office gave him ground-level experience in customer relations, which has shaped his understanding of retail banking throughout his career.

Rise Through the Ranks: From Officer to Chairman

The journey of Challa Sreenivasulu Setty from a probationary officer to the chairman is nothing short of inspirational. Over three decades, he held various critical positions that strengthened his expertise across different banking verticals.

According to his professional trajectory, Challa Sreenivasulu Setty managed:

• Stressed Assets Resolution Group as Deputy Managing Director
• Corporate Accounts Group in various senior roles
• Retail and Digital Banking Portfolio (2020-2022)
• International Banking and Global Markets divisions
• Technology Verticals as Managing Director

Appointment as SBI Chairman

The big moment came when Challa Sreenivasulu Setty was recommended by the Financial Services Institutions Bureau (FSIB) for the top role. Challa Sreenivasulu Setty assumed charge as Chairman of the country’s largest lender State Bank of India (SBI) on August 28, 2024, succeeding Dinesh Khara, who superannuated from services of the bank at the closing of business hours on Tuesday.

This appointment was significant because Challa Sreenivasulu Setty became the 27th chairman of India’s oldest and largest bank, responsible for managing assets worth trillions of rupees and serving millions of customers across the globe.

International Experience and Global Vision

What sets Challa Sreenivasulu Setty apart from many banking leaders is his extensive international experience. His roles included:

• Country Head of US Operations for State Bank of India
• Regional Head and General Manager for East Asia, based in Hong Kong
• VP & Head (Syndications) at SBI’s New York Branch

Challa Sreenivasulu Setty has accumulated over three decades of experience across various functions of the bank, both in India and internationally. This global exposure means he understands international banking practices, cross-border transactions, and global market dynamics—essential for leading a bank in today’s interconnected world.

Role as Chairman of Indian Banks’ Association

Beyond his responsibilities at SBI, Challa Sreenivasulu Setty also serves as Chairman of the Indian Banks’ Association. The decision was made during the IBA’s managing committee meeting held on March 28, 2025. Setty will lead the association until the next Annual General Meeting (AGM), representing the interests of India’s banking sector.

This dual responsibility makes Challa Sreenivasulu Setty a key figure in shaping India’s banking policy and industry direction. Challa Sreenivasulu Setty, Chairman of the State Bank of India (SBI), has been elected as the new Chairman of the Indian Banks’ Association (IBA), replacing Sunil Mehta in this critical function, with more than 35 years of banking experience under his belt.

Personal Details and Professional Credentials