Banks Board Bureau [BBB]

By : Neha Dhyani

Updated : May 18, 2022, 4:18

Banks Board Bureau, in short, BBB is a self-governing autonomous organization of the Central Government. This authority consists of eminent professionals and officials that advise the public sector banks to improve their management.

The Reserve Bank of India set up and established the Banks Board Bureau on April 1, 2016, which was a big step toward the banking reform in general and particularly revamping the public sector banks. BBB's headquarter is at the Central Offices of Reserve Bank of India, Mumbai.

Banks Board Bureau [BBB] Composition

The Banks Board Bureau consists of the following official members -

  • Chairman
  • Three Ex-Officio Members, including Secretary of the Department of Financial Services, Secretary of Department of Public Enterprises, and Deputy Governor of the Reserve Bank of India.
  • Five expert members, including two of them from the private sector

Members of the Banks Board Bureau [BBB]

Currently, there are seven members from public banks in the Banks Board Bureau. They are as follows:

  • Bhanu Pratap Sharma - Chairman
  • Debasish Panda - Secretary
  • Sailesh and N.S. Vishwanathan - Ex-Officio Members
  • Vedika Bhandarkar, Pradip Panala Shah, and Panja Pradeep Kumar - Part-Time Members

Bhanu Pratap Sharma is the current head of the Banks Board Bureau.

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What is the Status of the Banks Board Bureau [BBB]?

BBB is a not-for-profit self-governing body of the Central Government. The PJ Nayak Committee, which was set up in January 2014, manages the Banks Board Bureau. BBB was also a part of the Indradhanush Plan.

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Banks Board Bureau [BBB] Main Functions

The Banks Board Bureau is an advisory authority, and its function includes -

  • Assisting banks by providing them with the strategies to deal with issues like stressed assets or bad loans.
  • Assisting the PSBs in restructuring their business strategies.
  • Suggesting plans for consolidation and mergers with other banks as a solution to the problem of high collective gross NPAs.
  • Developing strategies for raising capital through advanced and innovative financial instruments.
  • Constructing a data bank containing data regarding the performance of nationalized banks and their officials.
  • Recommending the Central Government on topics relating to appointments, termination, confirmation, or extension of tenure of services of nationalized banks.
  • Advising the Central Government to modify suitable training and development programs for managers or executives in nationalized banks.
  • Advising the Central Government to formulate and implement a code of conduct and ethics for managers or executives in a nationalized bank.

The Banks Board Bureau has an agenda for creating and implementing suitable strategies for appointments, termination, and extension of the members of the Board in PSBs, state-owned financial institutions, and public sector insurance companies. It is a not-for-profit body as it receives expenses from the Reserve Bank of India.

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FAQs on Banks Board Bureau [BBB]

Q1) Who established the Banks Board Bureau?

The Reserve Bank of India set up and established the Banks Board Bureau on April 1, 2016, which was a big step toward the banking reform in general and particularly revamping the public sector banks.

Q2) Where is the Banks Board Bureau's headquarters located?

The Banks Board Bureau headquarters is located at the Central Offices of Reserve Bank of India, Mumbai.

Q3) Who heads the Banks Board Bureau?

Bhanu Pratap Sharma is the current head of the Banks Board Bureau.

Q4) Is the Banks Board Bureau a Statutory Body?

Yes. Banks Board Bureau is a not-for-profit self-governing body of the Central Government.

Q5) What is the Banks Board Bureau?

The Banks Board Bureau creates and implements suitable strategies for appointments, termination, and extension of the members of the Board in PSBs, state-owned financial institutions, and public sector insurance companies.