\u2206The Banks Board Bureau (BBB) has its genesis in the recommendations of \u2018The Committee to Review Governance of Boards of Banks in India, May 2014 (Chairman – P. J. Nayak)\u2019.<\/p>\n\n\n\n
\u2206Formation: The government, in 2016, approved the constitution of the BBB as a body of eminent professionals and officials to make recommendations for appointment of whole-time directors as well as non-executive chairpersons of Public Sector Banks (PSBs) and state-owned financial institutions.<\/p>\n\n\n\n
\u2206It is an autonomous recommendatory body.<\/p>\n\n\n\n
\u2206The Ministry of Finance takes the final decision on the appointments in consultation with the Prime Minister\u2019s Office.<\/p>\n\n\n\n
\u2206Functions:<\/p>\n\n\n\n
\u2713Apart from recommending personnel for the PSBs, the Bureau has also been assigned with the task of recommending personnel for appointment as directors in government-owned insurance companies.<\/p>\n\n\n\n
\u2713It engages with the board of directors of all the public sector banks to formulate appropriate strategies for their growth and development.<\/p>\n\n\n\n
\u2713It is tasked with improving corporate governance at public sector banks, building capacities, etc.<\/p>\n","protected":false},"excerpt":{"rendered":"
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