Prelims 2022 · Economy · Question 64
With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct?
- The Governor of RBI is the Chairman of BBB.
- BBB recommends for the selection of heads of Public Sector Banks.
- BBB helps the Public Sector Banks in developing strategies and capital raising plans.
Select the correct answer using the code given below:
Answer
2 and 3 only
1. Incorrect. The Banks Board Bureau (BBB) was headed by a Chairman appointed by the Government, not by the RBI Governor.
2. Correct. BBB was set up to recommend selection of whole-time directors and non-executive chairpersons/managing directors of Public Sector Banks and financial institutions.
3. Correct. BBB also advised PSBs on business strategies, governance reforms, and capital raising plans.
Therefore, statements 2 and 3 only are correct.