SBI Chief CS Setty Appointed as Chairman of Indian Banks Association (IBA)

The Indian Banks Association (IBA), the apex body representing the banking sector in India, has elected Challa Sreenivasalu Setty, the Chairman of State Bank of India (SBI), as its new chairman for the upcoming fiscal year. Setty will lead the association until the next Annual General Meeting (AGM). The appointment was announced after the IBA managing committee meeting held on March 28, 2025.

Key Highlights

• Challa Sreenivasalu Setty, the SBI Chairman, has been elected as the new Chairman of IBA for the next fiscal year.
• He succeeds MV Rao, Chief Executive of the Central Bank of India, who served as the previous chairman.

Three Deputy Chairmen have been appointed

• A Manimekhalai, CEO of Union Bank of India
• Swarup Kumar Saha, CEO of Punjab & Sind Bank
• Madhav Nair, CEO of Bank of Bahrain & Kuwait India
• B Ramesh Babu, CEO of Karur Vysya Bank, has been appointed as the Honorary Secretary of IBA.
• Setty will lead IBA’s efforts to advocate for the banking sector, ensuring policy support and addressing industry challenges.