With reference to the ‘Banks Board Bureau (BBB)’, which of the following statements are correct?
- The Governor of RBI is the Chairman of BBB.
- BBB recommends for the selection of heads for Public Sector Banks.
- BBB helps the Public Sector Banks in developing strategies and capital raising plans.
Select the correct answer using the code given below:
[UPSC Civil Services Exam – 2022 Prelims]
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Banks Board Bureau
- The Banks Board Bureau is an autonomous body under the Government of India, with a focus on enhancing the governance and board structures of public sector financial institutions.
- The Bureau’s secretariat includes a secretary and four officers.
- Contrary to Statement 1, the Governor of RBI is not necessarily appointed as the chairman of the Bureau; instead, the Central Government can appoint any suitable expert for the role.
- The BBB includes ex-officio members such as the Department of Financial Services Secretary, the Deputy Governor of the Reserve Bank of India, and the Secretary of the Department of Public Enterprises.
- The Bureau is responsible for selecting the heads of public sector banks, as well as devising strategies and plans to raise capital. Statements 2 and 3 are correct.