appointments Current Affairs - 2020

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Banks Board Bureau recommends 22 GMs for elevation as executive directors at PSU banks

Banks Board Bureau (BBB) has recommended 22 general managers to be elevated as executive directors at the various public sector banks (PSBs). This is the first major exercise undertaken by reconstituted BBB, headed by newly appointed Chairman BP Sharma, former Secretary, Department of Personnel and Training.

These recommendations were based on interactions held by BBB with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19. Now, Appointments Committee of Cabinet (ACC) headed by Prime Minister will take the final decision in this regard.

Banks Board Bureau (BBB)

BBB is super authority (autonomous and self-governing body) of Central Government comprising eminent professionals and officials to improve governance of PSBs. It was announced by Union Government in August 2015 as part of seven point Indradhanush Mission to revamp PSBs. It was set up in February 2016 under chairmanship of former CAG Vinod Rai based on recommendations of RBI-appointed Nayak Committee. It is based in Mumbai, Maharashtra.

Mandate: Its broad agenda is to improve governance at state-owned lenders. Its mandate also involves advising government on top-level appointments in PSBs and assisting banks with capital-raising plans through innovative financial methods and instruments as well as strategies to deal with issues of stressed assets or bad loans.

Composition: BBB comprises of three ex-officio members (from government) and three expert members, two of which are from private sector in addition to Chairman.

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Former NIA chief Sharad Kumar appointed vigilance commissioner in CVC

President Ram Nath Kovind has appointed former National Investigation Agency (NIA) chief Sharad Kumar (62) as vigilance commissioner in Central Vigilance Commission (CVC). He will have term of four years or till he attains the age of 65. Sharad Kumar was IPS officer 1979-batch from Haryana cadre. He had retired in September 2017 after heading NIA for over four years.

Central Vigilance Commission (CVC)

CVC is an apex probity watchdog of Union Government formed to address governmental corruption. It was set up by Central Government in February 1964 on the recommendations of K. Santhanam Committee on Prevention of Corruption. It has status of statutory autonomous body and free of control from any executive authority as per the provisions of Central Vigilance Commission (CVC) Act, 2003.

Functions: It monitors all vigilance activity under Union Government and advises various authorities in Union Government organizations in planning, executing, reviewing and reforming their vigilance work. Union Government has authorized CVC as “Designated Agency” to receive written complaints for disclosure on any allegation of corruption or misuse of office and recommend appropriate action.

Composition: CVC is headed by Central Vigilance Commissioner and has two Vigilance Commissioners. They are appointed by President on recommendations of select committee comprising of Prime Minister as Chairperson, Union Minister of Home Affairs and Leader of second largest party in Lok Sabha or majority group leader in parliament.

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