B.P. Sharma named Banks Board Bureau Chairman

The government on Thursday appointed former Union Personnel Secretary Bhanu Pratap Sharma as Chairman of the Banks Board Bureau (BBB), replacing first chairman Vinod Rai on completion of the latter's two-year term.

According to an announcement by Financial Services Secretary Rajeev Kumar, the other newly-appointed members of the BBB are former MD Credit Suisse India Vedika Bhandarkar, former MD State Bank of India P. Pradeep Kumar and founder MD of rating agency Crisil Pradip P. Shah.

Tasked to improve the governance of public sector banks (PSBs), the Banks Board Bureau is an autonomous body that recommends selection of heads of government-owned banks and financial institutions and includes the Financial Services Secretary and Reserve Bank of India (RBI) Deputy Governor as members.

"Government renews commitment to not interfere in senior level appointments in PSBs," Kumar said in a tweet while making the announcement.

He said the recommendations made by the BBB so far include an human resources reforms agenda to be taken forward.

--IANS

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