Former Comptroller & Auditor General (CAG) Vinod Rai has been appointed as1st Chairman of the Banks Board Bureau (BBB). His appointment comes after Prime Minister has approved the proposal of the Department of Financial Services for constitution of the Banks Board Bureau.
Appointed Members of Banks Board Bureau are Vinod Rai :
Vinod Rai is former CAG from January 2008 and May 2013.
N. Sinor (Member): He is former Joint Managing Director of ICICI Bank.
Anil K Khandelwal (Member):
He is former CMD of Bank of Baroda’s Rupa Kudwa (Members)
She is former chief of CRISIL. The tenure of Mr Rai and other members of board will be of 2 years.
About the Banks Board Bureau :
- BBB will be a super authority of eminent professionals and officials for public sector banks (PSBs). It will replace the Appointments Board of Government.
- The bureau was announced by the Union Government in August 2015 as part of 7 point Indradhanush Mission to revamp the PSBs.
- Functions:Give recommendations for appointment of full time Directors as well as non-Executive Chairman of the PSBs.
- Give advice to the PSBs in developing differentiated strategies for raising funds through innovative financial methods & instruments and to deal with the issues of stressed assets.
- Guide banks on mergers and consolidations and also ways to address the bad loans problem among other issues.
- Currently, there are 22 other state owned banks or PSBs in India including the State Bank of India (SBI), IDBI Bank & Bhartiya Mahila Bank etc.
Vinod Rai appointed as 1st Chairman of the Banks Board Bureau
No comments:
Post a Comment