The newly-formed Bank Board Bureau (BBB) met for the first time with top priority being accorded to fill the post of chief executives which will fall vacant during the course of this year.
At least three chief executive of public sector banks will retire in 2016-17, including that of Bank of Maharashtra and Indian Overseas Bank.
The BBB will be instrumental in making strategies of public sector banks.
It will also provide guidance to the expert panel (yet to be formed) which will look into consolidation among public sector banks.
The meeting which took place in Mumbai was attended by Reserve Bank of India Governor Raghuram Rajan and Minister of State for Finance Jayant Sinha.
The discussions, which lasted for more than eight hours, discussed the terms of reference, according to banking industry sources.
The BBB is headed by former Comptroller and Accountant General Vinod Rai.
Other members of the BBB are Rupa Kudwa, former chief of Crisil, Anil Khandelwal, former CMD of Bank of Baroda, and HN Sinor, former chief executive of Indian Banks’ Association and Association of Mutual Funds in India.
Current Affairs 8th April, 2016 Highlights of Union Budget 2016-17 Highlights of Railway Budget 2016
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