Bureau of Banking Standards
Q. Name the body of 'eminent' professionals and officials, which will replace the Appointments Board for appointment of Whole-time Directors as well as non-Executive Chairman of PSBs?- Published on 08 Feb 17a. NITI Aayog
b. NIYATAM
c. Bank Board Bureau
d. Bureau of Banking Standards
ANSWER: Bank Board Bureau
The government decided to set up a Bank Board Bureau, BBB through which two dozen state-run banks would be monitored for key performance indicators.
The BBB will start the functioning from the 1st of April 2017.
Banks Board Bureau is an autonomous body of Union Government of India tasked to improve the governance of Public Sector Banks, recommend selection of chiefs of government owned banks and financial institutions and to help banks in developing strategies and capital raising plans.
Vinod Rai is the Chairman of the Mumbai based Bureau.
