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BBB recommends 15 names for appointment of EDs in PSBs

Sources said recommendations were made by BBB Chairman Vinod Rai, other members

Press Trust of India  |  New Delhi 

Banks Board Bureau Chairman Vinod Rai. Photo: Kamlesh Pednekar
Banks Board Bureau Chairman Vinod Rai. Photo: Kamlesh Pednekar

Board Bureau (BBB) has recommended to the government names of 15 general managers of various public sector (PSBs) for appointment as executive directors (EDs).

Sources said the recommendations were made by Chairman and other members of the bureau.

The list would be sent to the Department of Financial Services to get Appointments Committee of Cabinet (ACC) clearance, sources said. The is headed by Prime Minister

The interview for appointment to the post of EDs was held on June 30.

Besides former CAG Rai as chairman, the other members of include Anil Khandelwal, former chairman and managing director of Bank of Baroda; H N Sinor, former joint managing director of Bank; and Roopa Kudva, managing director of Omidyar Network India Advisors.

RBI deputy governor, Financial Services Secretary and Department of Public Enterprises Secretary, are ex-officio members.

Recently, the government expanded the by inducting two more members with the objective of strengthening the panel responsible for selection of MDs and directors of public sector and financial institutions.

Former chairperson and managing director Shubhalaxmi Panse and private equity player Pradip Shah have been inducted into the board as independent members.

The BBB, set up in April 2016, was originally tasked to recommend names for chiefs of public sector and financial institutions and help state-owned lenders in developing strategies and capital-raising plans.

The Bureau was authorised to suggest to on developing a robust leadership succession plan through appropriate HR processes, including performance management systems.

First Published: Mon, July 03 2017. 01:41 IST