Setty appointed MD of SBI

New Delhi: The government on Monday appointed Challa Sreenivasulu Setty as the managing director of the State Bank of India for a period of three years, according to an official order.

The Appointments Committee of the Cabinet has approved the proposal of the Department of the Financial Services for the appointment of Setty, currently serving as the deputy managing director of the SBI, in the key post.

Setty has been appointed as the MD of the SBI for a period of three years with effect from the date of his taking over the charge of the post or until further orders, whichever is earlier and which is extendable by two years or until further orders, whichever is earlier, after review of his performance, the order said.