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With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below:

With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below: Correct Answer 2 and 3 <span style="">only</span>

The correct answer is 2 and 3 only.

Key Points

Banks Board Bureau

  • It is an Autonomous Body of the Government of India.
  • It is committed to improving the Governance and Boards of public sector financial institutions.
  • The Secretariat of the Bureau currently comprises Secretary and four officers.
  • It is not mandated that the Governor of RBI will be the chairman of the Bank Board Bureau (BBB).
  • Chairman can be any person of such experts who can be appointed by the Central  Government. Hence Statement 1 is incorrect.
  • Department of Financial Services Secretary, Deputy Governor of the Reserve Bank of India, and Secretary, Department of Public Enterprises are ex-officio members of the BBB.
  • It is empowered to select the heads of Public sector Banks. Hence, Statement 2 is correct.
  • It also helps to develop strategies and capital raising plans. Hence, Statement 3 is correct.

Additional Information

Its functions involve:

  • The broad agenda of the Banks Board Bureau was the administration of state-owned lenders
  • The Banks Board Bureau is mandated to select and appoint Board members for various financial institutions in the public sector.
  • It is also required to undertake activities in the sphere of governance in these institutions.
  • Assisting banks with the strategies to deal with issues of bad loans or stressed assets
  • Suggest plans for consolidation and merger with other banks while they are trapped in the problem of high collective gross NPAs.
  • To advise the Central Government on matters relating to appointments, confirmation or extension of tenure, and termination of services of the Directors of nationalized banks.
  • To build a data bank containing data relating to the performance of nationalized banks and their officers.
  • To advise the Central Government on the formulation and enforcement of a code of conduct and ethics for managerial personnel in nationalized banks.
  • To advise the Central Government on evolving suitable training and development programs for managerial personnel in nationalized banks.

Related Questions

Which of the following statements are true in context of scheduled banks?
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2. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.
3. Scheduled Commercial Banks in India are categorized into five different groups - SBI, Nationalised Banks, Regional Rural Banks, Foreign Banks and Other Indian Scheduled Commercial Banks in the private sector.
4. Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.
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Courses of Action :
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II. Public sector banks must adopt such policy to remain in competition.
III. The public sector banks should advertise their special feature repeatedly so that they do not lose their future customers.
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Read the passage carefully and select the best answer to each question out of the given four alternatives.
Public opinion may be passive and false or active and real. It is claimed in theory that all governments are ultimately based on the opinion or sanction of the governed. But we find that in practice the people's rights are often trodden down and tyranny and oppression are allowed to continue. The government does it not because the people want it to do so but because they are too idle, too uneducated and too disunited or timid to oppose the govern ment. Such public opinion is passive and false and not an active verdict. But when we find people alert, intelligent and determined to let the government know their will, when they want to exercise actively their voice in the management of their country, we have an instance of true or active public opinion. True public opinion is formed by and expressed through the press, the platform, political parties and educational institutions. These have sacred duties to perform, duties on which depends the ultimate good of the entire community. The press today wields a tremendous influence, So it should support the causes and move ments and condemn the wrong one's and thus teach people to form correct opinion. A free and fair press ventilates the grievances of the public. Thus a healthy relationship develops between the people and the government through out an unbiased press. Political parties also help to create and regulate opinions. No less important part is played by the educational Institutions which train the minds of the young people who will be the citizens of tomorrow. It has been said that modern Germany and China have been made by their universities. It is necessary that the young and the growing minds should imbibe the spirit of fellow-feeling, the spirit of tolerance, the habit of compromise, and show due regard for the feelings and opinion of others without which a democratic society cannot function, let alone succeed. When there is true awakening of the people, we shall have the real and conscious public opinion. And justice will reign on earth and truly will the voice of the people be the voice of God.
According to the passage, which of the following is needed from the people to have true or active public opinion? 1. Alertness
2. Determination
3. Intelligence
4. Raising their voice
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Consider the following statements about Central Board of Direct Taxes (CBDT). (a) The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. (b) It provides essential inputs for policy and planning of direct & Indirect taxes in India. (c) The CBDT is headed by CBDT Chairman and it comprises of seven members. (d) It is India’s official Financial Action Task Force unit. Which of the following statements are correct about CBDT? Select the correct answer using the code given below: