Challa Sreenivasulu Setty, Chairman of the State Bank of India (SBI), has been elected as the new Chairman of the Indian Banks’ Association (IBA) during the managing committee meeting held on 28th March 2025. Setty succeeds Sunil Mehta and will serve in this position until the next Annual General Meeting (AGM), steering the association through a period of significant evolution in the Indian banking landscape.
With a distinguished career spanning over 35 years, Setty joined SBI as a probationary officer in 1988 and has since held several key roles, including in international banking, global markets and technology. His leadership is expected to bring strategic direction to the IBA, promoting collaboration across member banks while addressing critical challenges such as digital transformation, regulatory shifts and customer-centric innovation.
Alongside Setty, the IBA appointed three deputy chairmen to support his tenure: A Manimekhalai, MD and CEO of Union Bank of India; Swarup Kumar Saha, MD and CEO of Punjab & Sind Bank; and Madhav Nair, Country Head and CEO of Bank of Bahrain & Kuwait. Additionally, B Ramesh Babu, MD and CEO of Karur Vysya Bank, has been named the honorary secretary.
The IBA plays a pivotal role in policy advocacy, banking coordination and addressing sector-wide issues. With Setty at the helm, the association is expected to strengthen its influence and play a proactive role in shaping India’s financial future, especially in light of the industry’s ongoing push for digitalization and greater financial inclusion.
