(THE NEWSMAN OF INDIA.COM) The Indian Banks’ Association (IBA) has announced the election of CS Setty, Chairman of the State Bank of India (SBI), as its new Chairman. This decision was made by the managing committee of the IBA, as per a recent statement.

In addition to the new Chairman, the IBA managing committee has also chosen three deputy Chairmen. A Maninekhalai, Managing Director of Union Bank, Swarup Kumar Saha, Managing Director of Punjab & Sind Bank, and Madhav Nair from Bank of Bahrain & Kuwait B.S.C will hold these important positions.

Furthermore, B. Ramesh Babu, the Managing Director of Karur Vysya Bank, has been appointed as the honorary secretary of the IBA. This comes shortly after the election of Atul Kumar Goel, former Managing Director of Punjab National Bank, as the Chief Executive Officer (CEO) of IBA, taking over from Sunil Mehta earlier this month.

The IBA, which serves as a representative body for banks, plays a key role in facilitating communication between banks and the banking regulator on critical matters related to the financial sector. Its members span across both public and private sector banks.