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New Delhi. The Financial Services Institutions Bureau (FSIB), which selects directors for public sector banks and financial institutions, has selected CS Shetty for the post of Chairman of SBI. Shetty is currently the most senior managing director of State Bank of India (SBI). He is in charge of services related to international banking.
Shetty will replace current SBI Chairman Dinesh Kumar Khara, who will retire on August 28 upon attaining the age of 63. FSIB said in a statement that Shetty has been recommended for appointment as SBI Chairman considering his performance, overall experience and existing parameters.
According to tradition, the new chairman of SBI is appointed from among the current managing directors. FSIB will now recommend the name of the new chairman to the Appointments Committee of the Cabinet. It will take the final decision in this regard. The chairman of the committee is Prime Minister Narendra Modi.
The chairman of FSIB is former Secretary of the Department of Personnel and Training (DoPT) Bhanu Pratap Sharma. Talking about its members, it includes the Financial Services Secretary, the Secretary of the Department of Public Enterprises and the Deputy Governor of the Reserve Bank of India (RBI).
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