JOIN US Headed by former CAG Vinod Rai, the newly-constituted Bank Board Bureau (BBB) will soon start the process of selection of managing directors for public sector banks, a task handed out to it by the government for fair and transparent selection of top level banking positions.
“The immediate priority of the Bureau will be to fill the existing and upcoming top positions in the public sector banks,” Rai told reporters after the second meeting of BBB here.
The Bureau, which is looking at a host of issues, including consolidation, stressed assets and capital infusion, among others, is expected to meet for the third time in New Delhi either on May 16 or 17.
“The tentative dates for meeting is the third Monday or Tuesday of next month. The meetings are taking place in quick succession as many decisions are at preliminary stages,” an official said after the meeting.
Besides helping the government select the heads of public sector banks, the BBB is also tasked with helping the lenders in the capital raising plans.
But the BBB’s top priority is to streamline the selection process in the PSBs, the official said.
Friday’s meeting was attended by ICICI Bank’s former joint MD H N Sinor, Bank of Baroda’s former CMD Anil K Khandelwal and rating agency Crisil’s ex-chief Rupa Kudwa. Its ex-officio members — Ameising Luikham, Secretary Department of Public Enterprises, and Financial Services Secretary Anjuly Chib Duggal also attended the meeting.
The first meeting of BBB was held on April 8 in Mumbai. It was attended by Minister of State for Finance Jayant Sinha and RBI Governor Raghuram Rajan, among others.