THE NEWSMAN OF INDIA.COM| The Indian Banks’ Association (IBA) concluded its 78th Annual General Meeting on February 20, 2026, with the reconstitution of its leadership team, reaffirming continuity as well as broad-based representation from major public and private sector banking institutions.

Challa Sreenivasulu Setty, Chairman of State Bank of India, was re-elected as Chairman of the IBA, reflecting the industry’s continued confidence in his leadership at a time when the banking sector is navigating rapid technological transformation, regulatory evolution and expanding credit growth.

Strengthening the association’s governing structure, Swarup Kumar Saha, Managing Director and Chief Executive Officer of Punjab & Sind Bank, and Ajay Kumar Srivastava, Managing Director and Chief Executive Officer of Indian Overseas Bank, were elected as Deputy Chairmen. Joining them as another Deputy Chairman is Rakesh Sharma, Managing Director and Chief Executive Officer of IDBI Bank, further enhancing representation from leading financial institutions.

Madhav Nair, Country Head and Chief Executive Officer (India) of Bank of Bahrain and Kuwait, has been elected as Honorary Secretary of the association, underscoring IBA’s commitment to inclusive participation across domestic and international banking entities operating in India.

The newly constituted leadership is expected to guide the association in addressing emerging challenges facing the banking industry, including digital banking expansion, financial inclusion, risk management, cybersecurity preparedness and sustainable financing initiatives.

The Indian Banks’ Association plays a pivotal role as a collective platform representing the interests of the banking sector, facilitating policy dialogue with regulators and the government while promoting best practices and coordinated industry growth. The refreshed leadership team is likely to focus on strengthening collaboration across banks and supporting reforms aimed at enhancing efficiency, resilience and customer-centric banking services across the country.