Vinoad Rai, who was the Comptroller and Auditor General from 2008 to 2013, during that time a lot of scams were unleashed, has been appointed as the first Chairman of Bank Board Bureau.
Bank Board Bureau is an advisory body, which will advise the government on top level appointments at public sector banks, it will also suggest ways to tackle bad loan problem, BBB will suggest ways to raise funds, merger and acquisition solutions to the lenders.
The BBB will remain in constant touch with the Board of Directors of all public sector banks and formulate appropriate strategies for their growth and development.
Besides, Vinoad Rai some other members of BBB include, CRISIL’s former chief Rupa Kudwa, Bank of Baroda’s former CMD Anil K Khandelwal and ICICI’s former Joint MD H N Sinor.
