Setting up an Autonomous Bank Board Bureau

The Government proposes to set up an autonomous Bank Board Bureau to improve the Governance of Public Sector Banks. The Bureau will search and select heads of Public Sector Banks and help them in developing differentiated strategies and capital raising plans through innovative financial methods and instruments. This would be an interim step towards establishing a holding and investment Company for Banks.

 This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.