Banks Board Bureau

  • September 21, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Subject: Economy

Context:

The Banks Board Bureau (BBB) has recommended to the government names of 13 general managers of various public sector banks (PSBs) for appointment as executive directors.

Concept:

  • The Bureau started functioning from April 01, 2016 as an autonomous recommendatory body.
  • It is tasked to improve the governance of Public Sector Banks, recommend selection of chiefs of government-owned banks and financial institutions and to help banks in developing strategies and capital raising plans
  • It will have three ex-officio members and three expert members in addition to Chairman
  • It is part of Mission Indradhanush for PSBs
  • The BBB separates the functioning of the PSBs from the government by acting as a middleman.
Banks Board Bureau economy