Activities undertaken/ Recommendations made: April 2017 to September 2017
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.
2. Continuing with the effort to front load the process of appointments of Whole time Directors (WTDs) in Public Sector Banks (PSBs), the Bureau has made its recommendations for the vacancies in PSBs for financial year 2017-18. This has made it possible to ensure that the final decision on appointments are made by the government before the vacancy arises. The Bureau has also been making recommendations for appointment of Non-executive Chairmen in PSBs.
3. As a sequel to the recommendations made in the past by the Bureau on a Governance, Reward and Accountability Framework (GRAF), the Bureau has made various recommendations such as interalia:
4. The Bureau is currently working on leadership and succession planning by devising a world class strategy to groom leaders for the future who can lead the transformation of PSBs to truly 21st century banks- modern and digital, providing unique customer experience and meeting competition. The Bureau is also working towards putting in place assessment systems to facilitate candidates to demonstrate their abilities that are essential to take on challenges faced by WTDs in PSBs. The Bureau will also be advising the government on evolving suitable training and development programs for management personal in PSBs.