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:?

1 and 2 only
2 and 3 only
1 and 3 only
1, 2 and 3

LohaHridoy

6 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : 2 and 3 only

The correct answer is 2 and 3 only.

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.

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.

6 views Answered 2022-09-04 04:29

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