The government will soon approve the reorganization of the Banks Board Bureau, the term ended in April

The government will soon finalize the restructuring of the Banks Board Bureau (BBB).

The government will soon finalize the restructuring of the Banks Board Bureau (BBB). Its extended two-year term ended last month.

Government Soon the Banks Board will finalize the restructuring of the Bureau (BBB). its extended term of two years (tenure) Last month is over. Sources gave this information. public sector banks (Banks) and financial institutions (Financial Institutes) Banks Board Bureau searching for eligible candidates for appointment to the posts of top management level of (Bank Board Bureau) His term ended on April 10. Sources said the Appointments Committee of the Cabinet (ACC) would soon take a decision on the reorganization of the BBB. Since April 2018, the BBB is headed by BP Sharma, former Secretary, Department of Personnel and Training.

Its other non-permanent members are Vedika Bhandarkar, former managing director of Credit Suisse, P Pradeep Kumar, former managing director of State Bank of India and Pradeep P Shah, founder managing director of rating agency CRISIL.

Government will decide on the members

Sources said it is up to the government to retain the chairman and some members or to reconstitute an entirely new board. He said that the appointments in the financial services sector will happen after the new members of the BBB take over.

Apart from this, let us tell you that the Reserve Bank of India (RBI) took a big action on Monday. A fine of Rs 58 lakh was imposed on a co-operative bank in Mumbai. The name of the bank against which action has been taken is Abhyudaya Co-Operative Bank. This Mumbai-based bank is accused of not following the instructions of the Reserve Bank. Even the rules related to NPAs were also ignored. After considering all these things, the Reserve Bank on Monday imposed a fine of 58 lakhs on Abhyudaya Co-operative Bank. However, this will not affect banking operations and all services related to customers will continue.

A similar action was taken against the Noida Commercial Co-operative Bank of Ghaziabad located in Delhi NCR. The Reserve Bank imposed a fine of Rs 1 lakh on this bank. In this way, the Reserve Bank on Monday imposed a fine of Rs 59 lakh on the banks in two separate actions. This includes a fine of Rs 58 lakh against Abhyudaya Co-operative Bank of Mumbai.

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