FSIB's decision came in consideration of the overall experience of the contenders. "Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Challa Sreenivasulu Setty for the position of Chairman in SBI," said the financial body. Setty would join as the 27th Chairman of SBI. Meanwhile, Alok Kumar Choudhary, Managing Director (Risk, Compliance & SARG) will be superannuating from the services of the bank, w.e.f. from June 30, 2024, said the SBI.