The Indian Banks’ Association (IBA) has appointed CS Setty, the chief of State Bank of India (SBI), as its new chairman. This crucial decision was made during a meeting of the managing committee held on March 28, as announced in a press release.

Setty will lead the IBA until the next Annual General Meeting (AGM), representing the interests of the banking sector. The committee also elected three deputy chairpersons: A. Manimekhalai, MD & CEO of Union Bank of India; Swarup Kumar Saha, MD & CEO of Punjab & Sind Bank; and Madhav Nair, Country Head & CEO-India of Bank of Bahrain & Kuwait BSC.

Additionally, B. Ramesh Babu, MD & CEO of Karur Vysya Bank, has been appointed as the honorary secretary of the association, according to the release.