Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Vinod Rai appointed chairman of BBB
  • Business

    Vinod Rai appointed chairman of BBB

    Written by
    Achin Garg
    Edited by
    Gaurav Jeyaraman
    Last updated on Feb 29, 2016, 09:31 am
    Vinod Rai appointed chairman of BBB
    Credits:
  • The government appointed former Comptroller and Auditor General Vinod Rai as the first chairman of the Bank Board Bureau to help manage state-run banks better.

    The choice of chairman came under scrutiny with the Congress questioning the possible violation of Article 148(4) of the Constitution which states that the CAG cannot hold any official office after leaving service.

    The government has refuted the charges.

  • In this article
    What is Bank Board Bureau (BBB)? Why is BBB required? BBB part of Indradhanush strategy BBB: A precursor to Bank Investment Company Industry stalwarts to direct bank appointments Composition of BBB Vinod Rai appointed chairman of BBB
  • Jan 2015

    What is Bank Board Bureau (BBB)?

    What is Bank Board Bureau (BBB)?
    Credits:
  • The creation of the Bank Board Bureau was announced by the Finance Minister to select directors of public sector banks.

    The BBB would be a 6 member body comprising of financial sector experts, former managing directors of banks, former bureaucrats, and industry experts.

    The Secretary, Department of Financial Services will head the BBB, which will become operational from 1 Apr 2016.

  • 9 Aug 2015

    Why is BBB required?

    Why is BBB required?
    Credits:
  • Currently, appointments to top banking positions are done by the government, which leads to allegations of conflicts of interest.

    Some experts also attribute this conflict of interest to the rising quantum of bad loans by banks, due to possible political interference in banks' lending operations.

    The BBB seeks to improve the appointment process in public sector banks and reduce corruption.

  • Information

    BBB part of Indradhanush strategy

  • BBB is a part of the government's 7 pronged strategy 'Indradhanush', to revive the Public Sector Banks (PSBs). The 7 strategies include appointments, BBBs, capitalization, de-stressing of PSBs, empowerment, framework of accountability and governance reforms.

  • 10 Dec 2015

    BBB: A precursor to Bank Investment Company

    BBB: A precursor to Bank Investment Company
  • BBB will be a precursor to the Bank Investment Company (BIC) which will hold government's shares in public sector banks.

    The government is planning to bring down its stake in public sector banks through BIC, mooted by the Nayak committee on banking governance reforms.

    The BBB and later BIC will help in raising capital for banks to meet their capitalisation requirements.

  • 16 Feb 2016

    Industry stalwarts to direct bank appointments

    Industry stalwarts to direct bank appointments
    Credits:
  • The government is planning to use the expertise of industry stalwarts such as Ratan Tata, Narayan Murthy, Nina Lal Kidwai, etc. in the proposed Bank Board Bureau (BBB).

    The inclusion of industry experts in the BBB will provide greater credibility and expertise to the body.

    The BBB will replace the existing Appointment Boards to select public-sector banks' chairpersons and non-executive directors.

  • 16 Feb 2016

    Composition of BBB

    Composition of BBB
    Credits:
  • The Bank board bureau will have 6 members - 3 from the government and 3 experts.

    The 3 government members are RBI governor, secretary in the Department of Financial Services and secretary in the Department of Personnel and Training.

    The government is keen on completing the selection of the 3 expert members at the earliest to ensure that BBB is operational by 1st Apr'16.

  • 29 Feb 2016

    Vinod Rai appointed chairman of BBB

    Vinod Rai appointed chairman of BBB
    Credits:
  • The government appointed former Comptroller and Auditor General Vinod Rai as the first chairman of the Bank Board Bureau to help manage state-run banks better.

    The choice of chairman came under scrutiny with the Congress questioning the possible violation of Article 148(4) of the Constitution which states that the CAG cannot hold any official office after leaving service.

    The government has refuted the charges.

Latest News
  • Prince Harry's James Corden interview caused ''disquiet' at Buckingham Palace?
    Prince Harry's James Corden interview caused ''disquiet' at Buckingham Palace?
    Entertainment
  • Samsung Galaxy M31s becomes cheaper; now starts at Rs. 18,500
    Samsung Galaxy M31s becomes cheaper; now starts at Rs. 18,500
    Science
  • 'Baahubali' writer roped in for 'Sita - The Incarnation'
    'Baahubali' writer roped in for 'Sita - The Incarnation'
    Entertainment
  • BS6 Kawasaki Ninja 300's colors and engine details revealed
    BS6 Kawasaki Ninja 300's colors and engine details revealed
    Auto
  • La Liga, Sevilla 0-2 Barcelona: Records broken
    La Liga, Sevilla 0-2 Barcelona: Records broken
    Sports
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021