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Home >Industry >Banking >Banks Board Bureau to meet on 28 Aug to discuss appointment of SBI chairman

NEW DELHI: The Banks Board Bureau (BBB) will meet virtually on Friday to discuss the appointment of the chief of State Bank of India (SBI) as incumbent Rajnish Kumar will demit office in little over a month's time on 7 October.

Kumar was appointed for a period of three years from October 2017.

On Friday, the Appointments Committee of the Cabinet (ACC) appointed Ashwani Bhatia as the managing director of SBI. Besides Bhatia, Arijit Basu, CS Shetty, and Dinesh Khara are the other three MDs.

The Bureau will also discuss extension of the tenure of executive directors of other public sector banks and review applications received for the post of managing director of IFCI, a person aware of the development told Mint.

The BBB was set up in 2016 to improve governance in public sector banks.

Former Reserve Bank of India (RBI) deputy governor, department of financial services secretary Debashish Panda, Bhanu Pratap Sharma, former secretary, department of personnel and training, among others are part of the Bureau.

"While the Bureau is working towards attracting the best personages on the boards, it is these boards which should drive the overall strategy of a bank within its risk capacity and also act as custodians who should reconcile the diverse interests of various stakeholders," according to information available on the website.

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