In recent decades, Banks Board Bureau has been the subject of increasing interest by researchers, academics and professionals from various fields. The impact of Banks Board Bureau on modern society is undeniable, its implications range from the economic to the cultural sphere, including the fields of health and technology. In this article, we will explore the various facets of Banks Board Bureau and analyze its influence on different aspects of our daily lives. From its role in the formation of identities to its participation in the development of business strategies, Banks Board Bureau has become a relevant topic that deserves to be examined from multiple perspectives. Through the analysis of Banks Board Bureau, we seek to shed light on its implications and unravel its complexity, in order to better understand its role in the contemporary world.
This article contains content that is written like an advertisement. (February 2024) |
Agency overview | |
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Formed | April 1, 2016 |
Jurisdiction | Govt of India |
Agency executive | |
Parent department | Ministry of Finance |
Website | https://banksboardbureau.org.in/ |
Banks Board Bureau (BBB) is an autonomous body of the Government of India tasked to search and select appropriate personages for the Board of Public Sector Banks, Public Sector Financial Institutions, and Public Sector Insurance Companies and recommend measures to improve Corporate Governance in these Institutions. In 2022, it was replaced by Financial Services Institutions Bureau(FSIB) with chairman and mandate remaining the same, in response to a Delhi High court order rendering BBB as incompetent.
The mandate of the Bureau includes:
Central Government notified the amendment to the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980 providing the legal framework for composition and functions of the Banks Board Bureau on March 23, 2016. The Bureau started functioning on April 1, 2016, as an autonomous recommendatory body.
The BBB works as a step towards governance reforms in Public Sector Banks (PSBs) as recommended by the P.J. Nayak Committee.
Bhanu Pratap Sharma is the Chairman of the Mumbai based Banks Board Bureau (Since 2018). It is housed in RBI's Byculla Office in Mumbai.
The first Chairman of Banks Board Bureau was Shri Vinod Rai (2016-2018).