The Union Finance Ministry has reconstituted Banks Board Bureau (BBB) and appointed former bureaucrat Bhanu Pratap Sharma as its chairman. It will replace earlier BBB headed by former Comptroller and Auditor General (CAG) Vinod Rai as its two-year term ended in March 2018. The reconstituted BBB will have two-year tenure, same as its predecessor.
Sharma is retired IAS officer of Bihar cadre (1981 batch) and former Principal Secretary (Finance) in the Bihar government. He is presently chairman of recruitment and assessment centre at Defence Research and Development Organisation (DRDO). He had been health secretary and secretary for personnel and training at Centre, before retiring in June 2017 from civil service.
Banks Board Bureau (BBB) :
BBB is super authority (autonomous body) of eminent professionals and officials for public sector banks (PSBs). It was announced by Union Government in August 2015 as part of seven point Indradhanush Mission to revamp PSBs and started functioning in April 2016. It had replaced Appointments Board of Government. It is housed in Reserve Bank of India’s central office in Mumbai, Maharashtra. BBB is considered as the first step towards Bank Investment Company as recommended by P J Nayak committee.