Activity Report: October 2018 to March 2019
1. It is three years since the Banks Board Bureau (the Bureau) came into being. During the last six months, the Bureau met on three occasions and undertook the following activities:-
i. Vacancies of whole-time Directors (WTDs) in PSBs:
The recommendations for filling up the posts of WTDs in PSBs were made on time. As a result, the vacancies which came up during this six monthly period were filled up without delay. The only vacancy which could not be filled up on time was that of MD&CEO in Canara Bank for which candidates outside the PSB universe are also eligible. The vacancy was advertised twice. However, it was met with less than enthusiastic response on both occasions. The Bureau made the recommendation for filling up of the vacancy on January 31, 2019. The Bureau has separately recommended to the Government the measures which may improve the pool of talent for filling up such vacancies.
ii. Leadership development strategy for nationalised banks
To help nationalised banks to take on the present and emerging challenges as well as help create a leadership pipeline, the Bureau continues to play the role of a catalyst. From a pool of 450 senior management personnel across nationalised banks, an inaugural batch of around 75 personnel has been identified this year. They are presently undergoing deeper assessments after which Individual Development Plans will be generated. Shortly, a globally ranked Indian Institution will be identified where every year the identified personnel will undergo intensive leadership development journey.
iii. Encourage a culture of discerning operating performance and strategy
To encourage a culture of discerning operating performance as well as business strategy, on a quarterly basis, the Bureau now makes available to each PSB its Relative Performance Rating (RPR) based on various Key Performance Indicators (KPIs). Other performance parameters including benchmarking with the private sector competitors as well as the results of capital assessment viz., common equity capital projections, are also made available.
iv. Reiteration of the earlier recommendations/fresh recommendations:
After detailed review, the earlier recommendations of the Bureau has been reiterated/ fresh recommendations made available to the government for further consideration in the following areas:
v. Appointment of WTDs in Public Sector Insurance Companies (PSIC)
The Banks Board Bureau has been assigned the task of recommending personnel for appointment as WTDs in PSICs. In this regard, on January 04, 2019 the Bureau made its recommendations for appointment of Chairman and MDs of LIC.