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Banks Board Bureau October 03, 2018

Activity Report: April to September 2018

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).

2. During the past six months, the Bureau undertook the following activities:

  1. Confronted with a situation of an unprecedented number of vacancies of whole time Directors (WTDs) in any single year and the acute need for filling up the vacancies in time, the Bureau immediately rolled out the process for appointments. This task was completed by June 30, 2018.

  2. After having interacted with a pool of 74 eligible candidates from the PSBs over a period of five days, the Bureau recommended 37 candidates for being considered for appointment as WTDs. The recommendations were posted on the website on the same day.

  3. As a next step to enhance the talent pool available to PSBs for being considered for appointment of MD & CEOs, the recommendation to include Deputy Managing Directors of State Bank of India in the pool of candidates was accepted.

  4. Based on the government’s decision to persist with its reform to allow the talent from outside the PSB universe to participate in the process of appointment of MD & CEOs in large PSBs, the Bureau recently advertised the vacancy of an MD & CEO in Canara Bank.

  5. After undertaking an assessment of performance, recommendations were made on extension/non-extension of tenure of incumbent WTDs, thereby setting the tone for rewarding performance.

  6. Playing the role of a catalyst and after ensuring ownership of various stakeholders, a flagship leadership development strategy, that has been designed and curated by PSBs for PSBs, was rolled out. To identify potential leadership talent, 450 senior management personnel across PSBs are currently undergoing the assessment phase of the strategy. Thereafter, identified talent will undergo an intensive leadership development journey driven by an objective to take on, sustainably and prudently, the challenges being faced by PSBs in an increasingly competitive market place. Concurrently, a process is being rolled out to identify a globally ranked Indian Institution where the leadership development programme can be housed and run on a year-on-year basis.

3. In pursuit of the recommendations made in the past, the Bureau continues to engage with various stakeholders. In the six month period, the Chairman and members have met on 10 occasions including a meeting with the non-executive Chairmen of PSBs.