Bank Board Bureau’s Next Meet on April 22

New Delhi: Newly-constituted Bank Board Bureau (BBB) will have its next meeting on April 22 to deliberate on various issues including consolidation, stressed assets and capital infusion.

“The Bureau is first looking at filling board-level vacancies,” Bank Board Bureau Chairman Vinod Rai told reporters here.

Besides, the Bureau is also looking at how to reduce NPAs in the public sector banks and kickstart lending activity. It is also looking at capital infusion plans for current financial year.

The first meeting was held on April 8 and also attended by Minister of State for Finance Jayant Sinha and Reserve Bank of India Governor Raghuram Rajan, besides its members.

Besides Mr Rai, Bureau members – former ICICI Bank joint managing director H N Sinor, former Bank of Baroda CMD Anil K Khandelwal and rating agency Crisil’s ex-chief Rupa Kudwa – were present.

Its ex-officio members – Ameising Luikham, Secretary Department of Public Enterprises, and R Gandhi, Deputy Governor of the RBI – too attended.

The Bureau has three ex-officio members and an equal number of expert members in addition to the chairman.

The Bank Board Bureau has been constituted to help the government select heads of public sector banks and financial institutions and assist banks in developing strategies and capital-raising plans.

There are 22 state-owned banks in the country, including State Bank of India (SBI), IDBI Bank and Bhartiya Mahila Bank.

BBB was proposed by the government as a body of eminent professionals and officials that will replace the Appointments Board for appointment of whole-time directors as well as non-executive chairman of PSU banks.

They will also constantly engage with the board of directors of all the public sector banks to formulate appropriate strategies for their growth and development.