Banks Board Bureau To Hold its First Meet Today
New Delhi: Banks Board Bureau (BBB), headed by former Comptroller & Auditor General of India (CAG) Vinod Rai, will holds its first meeting on Friday. A government official said the issues taken up for the first meet will also include consolidation among staterun banks.
“It is more of a freewheeling discussion among board members. All issues will be discussed, and accordingly, it will be decided which ones will be put on priority,” said the above quoted official, adding capital infusion and selection method in state-run lenders will also be taken up for discussion.
BBB is set up to improve governance at public sector banks, and has a part-time chairman with a seven-member board. Other members of BBB include Anil K Khandelwal, former CMD at Bank of Baroda; HN Sinor, former joint MD at ICICI Bank; and, Rupa Kudwa, former MD & CEO at CRISIL. Financial services secretary, deputy governor of the Reserve Bank of India and secretary of public enterprises will be ex-officio members.
The bureau will replace the board for appointment of whole-time directors as well as non-executive chairman of public sector banks (PSBs). It will also engage with boards of directors of all PSBs to formulate appropriate strategies for their growth and development. The government has maintained that BBB is the first step towards a holding company structure for state-run banks.
Eye on banks’ governance: Rai