Banking

Banks Board Bureau gets two more members

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The central government has expanded the Banks Board Bureau (BBB), headed by former comptroller and auditor general Vinod Rai by adding two more members to its panel.

“Former Allahabad Bank chairperson and managing director Shubhalaxmi Panse and private equity player Pradip Shah have been inducted into the board as independent members,” a senior finance ministry official said.

“The appointment of two additional members to the BBB will strengthen the panel,” the official added.

The Bureau was constituted for selection of heads of Public Sector Banks (PSBs), and for full-time directors and non-executive chairman on the boards of PSBs.

Members of the Bureau of the government and the central bank side are the secretary, Department of Financial Services; Secretary, Department of Public Enterprises; RBI Deputy Governor N S Vishwanathan.

Former chairman and managing director of Bank of Baroda A K Khandelwal, former Joint MD H N Sinor and former CRISIL MD Roopa Kudva are independent members.

Earlier this month veteran banker H N Sinor had quit as the member of Bank Board Bureau (BBB) and then decided to rejoin. “Sinor has decided to re-engage with the activities of the Bureau, with his usual fervour and vigour,” the BBB said in a statement last week.

 “In what he perceived as inadequate progress that the recommendations of the Bureau were making, and the resulting despondency, he had offered to withdraw his engagement with the Bureau,” the BBB had said.

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