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Thursday, April 12, 2018

Bhanu Pratap Sharma replaces Vinod Rai as Banks Board Bureau chairman

Finance Ministry reconstitutes BBB; Vedika Bhandarkar, P. Pradeep Kumar and Pradeep Shah are the new members.

Bhanu Pratap Sharma. File

The Union Finance Ministry has reconstituted the Banks Board Bureau (BBB) and appointed Bhanu Pratap Sharma as its chairman, replacing former Comptroller and Auditor General Vinod Rai.
Mr. Sharma was former the chairman of recruitment and assessment centre of DRDO (Defence Research and Development Organisation) and former Principal Secretary (Finance) in the Bihar government.
Some of the other new members are: Vedika Bhandarkar, former vice-chairman and managing director (investment banking and global markets) of Credit Suisse, India; P. Pradeep Kumar, former managing director of State Bank of India; and Pradeep Shah, former managing director, Crisil.
“Govt renews commitment not to interfere in Sr (senior) level appointments in PSBs,” Rajeev Kumar, secretary, financial services, tweeted while announcing the new members of the BBB. “Appoints new BBB with professionals with diverse expertise to select top management in PSBs. BBB recommendations made so far including HR reforms agenda to be taken forward,” he added.
The BBB, which has the responsibility of selecting members, including MDs & CEOs of public sector banks, started functioning in April 2016 with Mr. Rai at the helm. The chairman and its committee members had a two-year term, which ended in March 2018.

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