The government has reconstituted the Banks Board Bureau (BBB) and has appointed Bhanu Pratap Sharma as its chairman. He will replace Vinod Rai, the former Comptroller and Auditor General. These appointments are closely watched in view of the mounting NPAs and recent banking scams.
Sharma was the former the chairman of recruitment and assessment centre of Defence Research and Development Organisation and former Principal Secretary (Finance) in the Bihar government.
The government will not interfere in senior level appointments in PSBs, said Rajeev Kumar, secretary, financial services, in a tweet.
Govt renews commitment to not interfere in Sr level appointments in PSBs. Appoints new BBB with professionals with diverse expertise to select top management in PSBs. BBB Recommendations made so far incl HR reforms agenda to be taken forward. @PMOIndia @FinMinIndia @PIB_INDIA pic.twitter.com/d4qSRaOblM
— Rajeev kumar (@rajeevkumr) April 12, 2018
Other new members include Vedika Bhandarkar, former vice-chairman and managing director (investment banking and global markets) of Credit Suisse, India, P. Pradeep Kumar, former managing director of State Bank of India and Pradeep Shah, former managing director, Crisil.
The BBB has the responsibility of selecting members, including MDs & CEOs of public sector banks. It was constituted in 2016 with Mr. Rai at the helm. The chairman and its committee members had a two-year term, which ended in March 2018.