Banks Board Bureau identifies 75 senior personnel for leadership roles in public banks

The Bureau has planned to give complete autonomy to banks for deciding its organisational structure for better efficiency

By BusinessToday.In  
Friday, April 19, 2019

The Banks Board Bureau (BBB) has identified 75 senior management personnel, from a pool of 450 people, of public sector banks to take over the leadership roles in the future. BBB is the apex body for selection of whole-time directors of state-owned banks.

BBB, in its activity report for October 2018-March 2019, said that the batch of the selected personnel are supposed to help nationalised lenders take on the emerging and current challenges, as well as help, create a leadership pipeline.

"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," added BBB.

BP Sharma, BBB head and former Department of Personnel and Training secretary suggested revamping credit governance architecture in nationalised banks to enhance the efficiency of credit allocation and reinforce efforts to minimise credit costs.

The Bureau has planned to give complete autonomy to banks for deciding its organisational structure for better efficiency.

The report said, "Incentivise maximisation of risk-adjusted income and disincentivise operational inefficiencies by aligning compensation with right performance metrics through the introduction of performance-based compensation through Employee Stock Option Scheme, which is different from Employee Share Purchase Scheme, and Performance Linked Incentives."

The report further added that the BBB was assigned to recommend personnel for appointment as directors in the government's insurance companies. In this regard, on January 4 this year, it made its recommendations for the appointment of chairman and managing directors of LIC.

In 2016, PM Modi approved the constitution of the Banks Board Bureau as an eminent body to make recommendations for appointment of whole-time directors and non-executive chairmen of PSBs.

(Edited by Vivek Dubey)

Also Read: SpiceJet announces 24 new domestic flights connecting Mumbai, Delhi to Tier II cities

Also Read: Tussle for Mumbai Airport: GVK to sell 49% stake in airport arm to keep Adani out of MIAL

Also Read: Billionaire birthday boy Mukesh Ambani is not an MBA; pure vegetarian, teetotaller has salary frozen at Rs 15 cr pa since 2009!

Related Stories

Bharti Airtel's fiscal results indicate 'rebound' in Indian mobile sector: Fitch Ratings
Bharti Airtel's fiscal results indicate 'rebound' in Indian mobile sector: Fitch Ratings
Omkar talking to L&T Realty for Rs 4,500-cr Bandra slum rehabilitation project
Omkar talking to L&T Realty for Rs 4,500-cr Bandra slum rehabilitation project
Flipkart launches online grocery store 'Supermart' in Mumbai
Flipkart launches online grocery store 'Supermart' in Mumbai

Latest Stories

Bharti Airtel's fiscal results indicate 'rebound' in Indian mobile sector: Fitch Ratings
Bharti Airtel's fiscal results indicate 'rebound' in Indian mobile sector: Fitch Ratings
Omkar talking to L&T Realty for Rs 4,500-cr Bandra slum rehabilitation project
Omkar talking to L&T Realty for Rs 4,500-cr Bandra slum rehabilitation project
Flipkart launches online grocery store 'Supermart' in Mumbai
Flipkart launches online grocery store 'Supermart' in Mumbai
SPONSORED