The newly appointed Chairman and members deeply appreciated the role played by the Bureau as an autonomous recommendatory public authority under the guidance of its first Chairman and members. The Chairman and members reinforced the Bureau’s commitment to collaborate with various stakeholders in the collective effort of transforming Public Sector Banks (PSBs).

A compilation of the Bureau’s various recommendations is an effort to encourage a more informed debate on the recommendations made by the Bureau in the context of the institutional perimeter given to it. The compilation also reflects on the role of the Bureau, going forward. In order to maintain the reader’s interest, the compilation is not entirely a verbatim repetition of the recommendations.

This compilation of the Bureau’s various recommendations is an effort to encourage a more informed debate on the recommendations made by the Bureau in the context of the institutional perimeter given to it. The compilation also reflects on the role of the Bureau, going forward. In order to maintain the reader’s interest, the compilation is not entirely a verbatim repetition of the recommendations.

The Banks Board Bureau (Bureau), a recommendatory body, which came into being on April 01, 2016 has completed a year and a half of its functioning. Considering the public interest in matters related to the mandate of the Bureau, the Bureau has been providing half yearly updates on the activities/recommendations made by the Bureau. The first update was provided for the half year period April 2016 to September 2016. The second update was provided for the period October 2016 to March 2017. Accordingly, the update for the half year period April 2017 to September 2017 is as follows.

The Bureau which came into being on April 01, 2016 has just completed the first year of its functioning. Immediately on commencement, the Bureau gave priority to ensure that the new appointments of whole-time directors in public sector banks (PSBs) are completed before the existing incumbent superannuates. Accordingly, the first half of the financial year gone by was focused primarily on making recommendations on appointment of whole time directors in PSBs.

The Banks Board Bureau was formally inaugurated by Mr Jayant Sinha, the then Minister of State for Finance and Dr Raghuram Rajan, the then Governor, RBI, on April 08, 2016. During first six months of its operation, the Bureau comprising of part time members and Chairman undertook following activities

The functions of the Bureau as per the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2016 and as per various notifications of Department of Financial Services, Ministry of Finance, Government of India.

[Updated on January 1, 2021]

In exercise of the powers conferred by section 9 of the Banking Companies(Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government, after consultation with the Reserve Bank of India, hereby makes the following scheme further to amend the Nationalised Banks(Management and Miscellaneous Provisions) Scheme, 1980.

The Committee to Review Governance of Boards of Banks in India was constituted by the RBI Governor on 20th January, 2014.  The Chairman of the Committee was Shri P J Nayak.  The Committee submitted its report on May 12, 2014.

An Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and organisation, in order further to control the heights of the economy, to meet progressively, and serve better, the needs of the development of the economy and to promote the welfare of the people, in conformity with the policy of the State towards securing the principles laid down in clauses (b) and (c) of article 39 of the Constitution and for matters connected therewith or incidental thereto.