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.