Question
Consider the following statements regarding the "Banks Board Bureau (BBB)" constituted in 2016:
Select the correct answer using the code given below:
- It will be responsible for the appointment of heads in PSBs and Financial Institutions
- It will help PSBs in developing strategies and capital raising plans
- It will improve the governance of the Public Sector Banks (PSBs)
Select the correct answer using the code given below:
Answer: Option D
Answer: (d)
With a view to improving the Governance of Public Sector Banks (PSBs), the GoI appointed an autonomous Banks Board Bureau (BBB) which started functioning from 1st April 2016. The Board has three ex-officio members and three expert members in addition to a Chairman. The following are the functions of the BBB
It will be responsible for the selection and appointment of Board of Directors in PSBs and Financial Institutions (FIs) It will advise the Government on matters relating to appointments, confirmation or extension of tenure and termination of services of the Board of Directors
It will help banks to develop a robust leadership succession plan for critical positions
It will build a data bank containing data relating to the performance of PSBs/FIs and their officers It will advise the Government on the formulation and enforcement of a code of conduct and ethics for managerial personal in PSBs/FIs
It will advise the Government on evolving suitable training and developmentØ programmes for management personnel in PSBs/FIs
It will help banks in terms of developing business strategies and capital raising planØ etc.
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Answer: (d)
With a view to improving the Governance of Public Sector Banks (PSBs), the GoI appointed an autonomous Banks Board Bureau (BBB) which started functioning from 1st April 2016. The Board has three ex-officio members and three expert members in addition to a Chairman. The following are the functions of the BBB
It will be responsible for the selection and appointment of Board of Directors in PSBs and Financial Institutions (FIs) It will advise the Government on matters relating to appointments, confirmation or extension of tenure and termination of services of the Board of Directors
It will help banks to develop a robust leadership succession plan for critical positions
It will build a data bank containing data relating to the performance of PSBs/FIs and their officers It will advise the Government on the formulation and enforcement of a code of conduct and ethics for managerial personal in PSBs/FIs
It will advise the Government on evolving suitable training and developmentØ programmes for management personnel in PSBs/FIs
It will help banks in terms of developing business strategies and capital raising planØ etc.
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