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, reported the Financial Express.
“Following a detailed discussion with Vinod Rai, Chairman of the BBB, Sinor has decided to re-engage with the activities of the Bureau, with his usual fervour and vigour,” said BBB.
“Sinor has been an invaluable asset as a non-official member of the Banks Board Bureau. He brings with him rich experience of public and private sector banking,” the board added.
“In the Bureau, he has been associated with some dynamic initiatives including the conceptualising of a new compensation suite involving Employee Stock Ownership Plan (ESOP) and other performance linked incentives for public sector banks,” it said.
“Rai has welcomed the decision of Sinor and expressed satisfaction in continuing to have his guidance and advice,” said the board.
BBB, which was set up in April 2016, was originally constituted to recommend names for chiefs of public sector banks and financial institutions and help state-owned lenders in developing strategies and capital raising plans.