The interview for appointment to the post of EDs was held on June 30.
Besides former CAG Rai as chairman, the other members of BBB include Anil Khandelwal, former chairman and managing director of Bank of Baroda; H N Sinor, former joint managing director of ICICI 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 BBB by inducting two more members with the objective of strengthening the panel responsible for selection of MDs and directors of public sector banks and financial institutions.
Former Allahabad Bank 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 banks and financial institutions and help state-owned lenders in developing strategies and capital-raising plans.
The Bureau was authorised to suggest to banks on developing a robust leadership succession plan through appropriate HR processes, including performance management systems.