Q64.
With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads of Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below:
Answer
B
Explanation
Statement 1 is incorrect: The BBB board comprises the Chairman, three ex-officio members (Secretary of Department of Public Enterprises, Secretary of Department of Financial Services, and Deputy Governor of RBI) and three expert members. The RBI Governor is NOT its Chairman. Statement 2 is correct: BBB is mandated to recommend selection and appointment of Board Directors (Whole Time Directors and Chairman) in mandated institutions including Public Sector Banks. Statement 3 is correct: BBB helps banks in terms of developing business strategies and capital raising plans.