Banks Board Bureau chief blames Centre for sitting over banking reform

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Rationalisation of BanksHighlighting serious lapses and communication breakdown between the Centre and the Banks Board Bureau (BBB), Chairman of BBB Vinod Rai blamed the Government for sitting over the recommendations pertaining to public sector banking reforms.

While submitting his 60-page report titled ‘Compendium of Recommendation’ just 10 days prior to the expiry of tenure of all the members of the BBB. The report also highlighted the compiled details of the task performed by the Bureau in last two years.

Rai also suggested making banking regulations as independent ownership, in the wake of Punjab National Bank scam that amounted to Rs 129 billion.

In the report, Rai highlighted a serious communication gap between the Centre and the BBB. The Banks Board Bureau (BBB) was setup in February 2016 under the former Comptroller and Auditor General to promote in reforms in public sector banks.

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