UPSC Prelims 2019 · Question 3 of 99
UPSC Prelims 2019 question on Banks Board Bureau
- ExamUPSC CSE
- Year2019
- PaperGeneral Studies Paper I
- SubjectIndian Economy
- TopicBanking
- DifficultyEasy
- TypeDirect
The Chairman of public sector banks are selected by the
Show answer
Answer: A. Banks Board Bureau
Verdict
Correct answer: Banks Board Bureau → Option (a).
Analysis
Banks Board Bureau (BBB) recommends for selection of heads of Public Sector Banks and Financial Institutions and helps banks in developing strategies and capital raising plans.
Functions of BBB include: To be responsible for the selection and appointment of Board of Directors in PSBs and FIs (Whole-time Directors and Non-Executive Chairman); To advise the Government on matters relating to appointments, confirmation or extension of tenure and termination of services of the Board of Directors.