{"id":1681,"date":"2024-03-28T18:00:09","date_gmt":"2024-03-28T12:30:09","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1681"},"modified":"2024-04-03T07:19:24","modified_gmt":"2024-04-03T01:49:24","slug":"q-with-reference-to-the-banks-board-bureau-bbb-which-of-the-following-statements-are-correct","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-with-reference-to-the-banks-board-bureau-bbb-which-of-the-following-statements-are-correct","title":{"rendered":"Q. With reference to the \u2018Banks Board Bureau (BBB)\u2019, which of the following statements are correct?"},"content":{"rendered":"\n
    \n
  1. The Governor of RBI is the Chairman<\/strong> of BBB.<\/li>\n\n\n\n
  2. BBB recommends for the selection of heads for Public Sector Banks.<\/li>\n\n\n\n
  3. BBB helps the Public Sector Banks in developing strategies and capital raising plans.<\/li>\n<\/ol>\n\n\n\n

    Select the correct answer using the code given below:<\/p>\n\n\n\n

      \n
    • 1 and 2 only<\/li>\n\n\n\n
    • 2 and 3 only<\/li>\n\n\n\n
    • 1 and 3 only<\/li>\n\n\n\n
    • 1, 2 and 3<\/li>\n<\/ul>\n\n\n\n
      \n

      Answer: (b) 2 and 3 only<\/strong><\/p>\n<\/blockquote>\n\n\n\n

      Banks Board Bureau (BBB)<\/h5>\n\n\n\n
        \n
      • Banks Board Bureau (BBB) is a self-governing<\/strong> autonomous body<\/strong> of the Government of India tasked to search and select apposite personages for Board of Public Sector Banks<\/strong>, Public Sector Financial Institutions and Public Sector Insurance Companies <\/strong>and recommend measures to improve Corporate Governance<\/strong> in these Institutions.<\/li>\n\n\n\n
      • Banks Board Bureau headquarter is at the Central Office of Reserve Bank of India,\u00a0Mumbai<\/strong>\u00a0and started its functioning on April 1, 2016.\n
          \n
        • The Banks Board Bureau (BBB) has its genesis in the recommendations of \u2018The Committee to Review Governance of Boards of Banks in India, May 2014 (Chairman \u2013 P. J. Nayak)\u2019.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • BBB was a part of the seven-point strategy of the Indradhanush Mission aimed at revamping the Public Sector Banks. It is an autonomous body of officials and distinguished professionals for the PSBs\u00a0 (Public Sector Banks).\n
            \n
          • The Governor of RBI is not the Chairman of the Bank Board Bureau (BBB)<\/strong>. The Appointments Committee of the Cabinet<\/strong> in its discretion appoints the Chairman and members of the BBB.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
          • The Ministry of Finance<\/strong> has the final decision-making authority on the appointments in consultation with the Prime Minister\u2019s Office.<\/strong><\/li>\n\n\n\n
          • The mandate of the Bureau includes<\/strong>:\n
              \n
            • To recommend the selection and appointment of Board of Directors<\/strong> in Nationalised Banks, Financial Institutions and Public Sector Insurance Companies (Whole Time Directors and chairman);<\/li>\n\n\n\n
            • To advise the Central Government on matters relating to appointments, confirmation or extension of tenure and termination of services<\/strong> of the Directors of mandated institutions;<\/li>\n\n\n\n
            • To advise the Central Government on the desired management structure<\/strong> of mandated institutions, at the level of Board of Directors and senior management;<\/li>\n\n\n\n
            • To advise the Central Government on a suitable performance appraisal system<\/strong> for mandated institutions;<\/li>\n\n\n\n
            • To build a data bank<\/strong> containing data relating to the performance of mandated institutions and its officers;<\/li>\n\n\n\n
            • To advise the Central Government on the formulation and enforcement of a code of conduct and ethics <\/strong>for managerial personnel in mandated institutions.<\/li>\n\n\n\n
            • To advise the Central Government on evolving suitable training and development programs <\/strong>for managerial personnel in mandated institutions<\/li>\n\n\n\n
            • To help the banks in terms of developing business strategies and capital raising plan<\/strong> and the like;<\/li>\n\n\n\n
            • Any other work assigned by the Government in consultation with Reserve Bank of India.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

              Select the correct answer using the code given below: Answer: (b) 2 and 3 only Banks Board Bureau (BBB)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[51],"class_list":["post-1681","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-51"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian Economy"}],"years":[{"value":51,"label":"2022"}]},"featured_image_src_large":false,"author_info":{"display_name":"LotusArise","author_link":"https:\/\/lotusarise.com\/qna\/author\/team-lotusarise"},"comment_info":0,"category_info":[{"term_id":1,"name":"UPSC","slug":"upsc","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":1269,"filter":"raw","cat_ID":1,"category_count":1269,"category_description":"","cat_name":"UPSC","category_nicename":"upsc","category_parent":0},{"term_id":3,"name":"Prelims","slug":"prelims","term_group":0,"term_taxonomy_id":3,"taxonomy":"category","description":"","parent":1,"count":1251,"filter":"raw","cat_ID":3,"category_count":1251,"category_description":"","cat_name":"Prelims","category_nicename":"prelims","category_parent":1}],"tag_info":[{"term_id":38,"name":"Indian Economy","slug":"indian-economy","term_group":0,"term_taxonomy_id":38,"taxonomy":"post_tag","description":"","parent":0,"count":225,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/comments?post=1681"}],"version-history":[{"count":0,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1681\/revisions"}],"wp:attachment":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/media?parent=1681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/categories?post=1681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/tags?post=1681"},{"taxonomy":"years","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/years?post=1681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}