BBB’S BALANCE SHEET
The Banks Board Bureau became operational on
1 April 2016 and its tenure ended on March 31, 2018
BBB was led by former CAG Vinod Rai and its members included officials from the Reserve Bank of India, finance ministry, two former chief executives of banks and a banking expert
PERFORMANCE
Of the 13 objectives, BBB had achieved seven
Two of them were dependent upon the implementation of its recommendations by the government
Three were work in progress:
To develop methodology for selection of “high calibre” whole-time directors
To help banks develop a robust leadership succession plan
To frame training and development programmes for PSB board management
The BBB sidestepped from its role in one of them— developing business strategies for banks
DEMAND FOR FUTURE ROLE
Role in consolidation of public sector banks
Mechanism to engage with boards of PSBs directly
Independent feedback to the finance minister on governance and accountability framework twice a year
Create a strategy on asset quality resolution of banks