Challa Sreenivasalu Setty, Chairman of the State Bank of India (SBI), has been appointed as the new Chairman of the Indian Banks Association (IBA), the apex body representing the banking sector in India. With over three decades of experience in the banking industry, Setty brings a wealth of expertise in financial management, risk assessment, and strategic leadership to his new role. His appointment was confirmed following the IBA managing committee meeting held on March 28, 2025.
Setty, who has been instrumental in driving key initiatives at State Bank of India, succeeds MV Rao, Chief Executive of the Central Bank of India. Under his leadership, IBA is expected to continue advocating for progressive banking reforms, strengthening industry collaboration, and supporting regulatory frameworks that promote financial inclusion and economic growth. His vast experience with State Bank of India positions him well to lead the association in addressing industry challenges and fostering innovation.
State Bank of India, under Setty’s leadership, has played a pivotal role in advancing digital banking solutions and financial services. His appointment to the Indian Banks Association marks a significant step in aligning the industry with evolving technological and economic trends. As Chairman, he is expected to enhance IBA’s role in shaping policy discussions and representing the collective interests of Indian banks.
The Indian Banks Association, with State Bank of India’s active participation, continues to play a crucial role in driving reforms, improving banking efficiency, and advocating for policy enhancements. With Setty at the helm, the association is poised to reinforce its commitment to the growth and stability of the banking sector, ensuring it remains a driving force in India’s economic development.