BANKS BOARD BUREAU
The Banks Board Bureau (BBB) is an autonomous body set up by the Government of India. Its primary objective is to improve the governance of public sector banks (PSBs) and enhance their efficiency and performance.
Established in 2016, the BBB was created as a part of banking sector reforms to address issues related to governance, transparency, and operational effectiveness within PSBs. The Bureau operates as an advisory body to facilitate the selection and appointment of senior personnel, including board members and chief executives, in PSBs.
The Banks Board Bureau (BBB) is an autonomous body established by the Government of India in 2016. It was created as part of efforts to reform the governance and functioning of public sector banks (PSBs) in the country.
The primary objectives of the Banks Board Bureau include:
- Enhancing governance standards within PSBs by recommending reforms and best practices related to board appointments, leadership selection, and operational efficiency
- Recommending candidates for key leadership positions in PSBs, such as chairpersons, managing directors, and executive directors. The BBB aims to ensure that these appointments are based on merit and competence
- Conducting periodic evaluations of the performance and effectiveness of PSB board members and senior executives
- Providing strategic advice and guidance to PSBs on matters concerning corporate governance, human resources, and operational strategies to enhance their performance
- Identifying and nurturing leadership talent within PSBs by facilitating training, development programs, and succession planning
The Banks Board Bureau (BBB) comprises a chairman, non-executive members, and ex-officio members. As of my last knowledge update in January 2022, the composition of the BBB was as follows:
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Chairman: The BBB chairman is a prominent individual with experience in banking, finance, or related sectors. The chairman leads the bureau and oversees its functions, including recommendations for senior appointments in public sector banks.
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Non-Executive Members: The BBB includes non-executive members who are individuals with expertise in various fields such as banking, finance, human resources, and corporate governance. These members contribute their knowledge and insights to the bureau's decision-making processes.
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Ex-Officio Members: The BBB consists of ex-officio members, including officials representing the government and regulatory bodies. These members participate in the bureau's activities and contribute to its discussions and recommendations.
The specific individuals occupying these positions within the Banks Board Bureau might change over time due to appointments, resignations, or the completion of terms. The composition of the BBB is designed to bring together a diverse set of individuals with expertise in different areas relevant to banking, governance, and leadership to guide the bureau's objectives of enhancing the functioning and governance of public sector banks in India.
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MCQs On Banks Board Bureau
Answers:
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Previous Year Questions
1.With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? (UPSC CSE 2022) 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below: A.1 and 2 only
B.2 and 3 only
C.1 and 3 only
D.1, 2 and 3
Answer (B)
2.The Chairman of public sector banks are selected by the (UPSC CSE 2019)
A.Banks Board Bureau
B.Reserve Bank of India
C.Union Ministry of Finance
D.Management of the concerned bank
Answer (A)
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