SBI Cards Board Approves Appointment Of CS Setty As New Chairman
Setty's appointment is effective immediately, pending shareholder approval
SBI Cards and Payments Services has appointed Challa Sreenivasulu Setty as the new nominee director and chairman of the company. The decision was approved by the board of directors, as per an official exchange filing on Friday. Setty's appointment is effective immediately, pending shareholder approval.
Setty currently serves as the chairman of the State Bank of India (SBI), which owns a 68 per cent stake in SBI Cards. He stepped into the role of SBI chairman in August 2024. An experienced leader in the banking sector, Setty joined the SBI Board as Managing Director in January 2020.
During his tenure, he led the retail and digital banking division from 2020 to 2022 before transitioning to oversee international banking, global markets, and technology. He has also been a key figure in several governmental task forces and committees, demonstrating his influence in the financial industry.
