Soft-spoken village boy set to occupy SBI's corner office

For Challa Sreenivasulu Setty, from a rural financier's family in Andhra Pradesh, entering the banking profession was a natural progression.

- ABHIJIT LELE

On Saturday, the Financial Services Institutions Bureau (FSIB) recommended Setty (who completes 59 in September) one of the managing directors (MDS) of SBI as the next chairman of the country's largest lender.

FSIB makes recommendations to the government for the appointment of senior executives in public sector financial institutions. Being recommended to the top post of SBI - with a 61-trillion balance sheet and 500 million customers is certainly recognition of Setty's talent, grit and performance.

His colleagues at the bank and those from the banking fraternity point to his zest for enhancing standards. His focus has been on building competencies in people and systems.

"You will see him frequently asking customers especially retail about service experience, pain points, areas of improvement and suggestions," said a senior SBI executive working in retail operations. Setty is known for speaking out his mind, and he does it politely and respectfully, recollects one SBI field staffer, who has worked with him in a digital banking project.

Fellow bankers, including one from a peer bank, said humility and holistic approach as well as the ability to take people along are his key attributes.