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Delhi Delhi. The government on Tuesday appointed C S Setty as the chairman of the country's largest lender State Bank of India (SBI) for a period of three years. Setty, currently the senior-most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28. The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services to appoint Challa Srinivasulu Setty as SBI chairman for a term of three years from the date of assuming charge, a government order said. Khara will retire on August 28, when he attains the age of 63, the upper age limit for the post of SBI chairman. Besides, the government has appointed Rana Ashutosh Kumar Singh to take over as managing director (MD) at SBI. The country's largest lender SBI has a chairman assisted by four MDs. Another order said Singh, who is currently the DMD, will take over as MD till June 30, 2027, the retirement age. Shetty, who also headed various task forces and committees constituted by the Government of India, had previously looked after the bank's retail and digital banking portfolio. A Bachelor of Science in Agriculture and a Certified Associate of the Indian Institute of Bankers, he began his career with SBI in 1988 as a Probationary Officer.

The government on Tuesday appointed C S Setty as chairman of the country's largest lender State Bank of India (SBI) for a period of three years. Setty, currently the senior-most MD of the bank, will replace outgoing chairman Dinesh Kumar Khara on August 28. The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services to appoint Challa Srinivasulu Setty as SBI chairman for a term of three years from the date of assuming charge, a government order said. Khara will retire on August 28, when he attains 63, the upper age limit for the post of SBI chairman. Besides, the government has appointed Rana Ashutosh Kumar Singh to take over as managing director (MD) at SBI. SBI, the country's largest lender, has a chairman assisted by four MDs. Another order said Singh, who is currently the DMD, will take over as MD on June 30, 2027, the retirement age. Shetty, who also headed various task forces and committees constituted by the Government of India, had previously looked after the bank's retail and digital banking portfolio. A Bachelor of Science in Agriculture and a Certified Associate of the Indian Institute of Bankers, he started his career with SBI as a Probationary Officer in 1988. He has rich experience in corporate credit, retail, digital and international banking and banking in developed markets.