Govt revamps Banks Board into Financial Services Institutions Bureau

Govt revamps Banks Board into Financial Services Institutions Bureau

• The government has transformed Banks Board Bureau (BBB), the headhunter for directors of state-owned banks and financial institutions, into Financial Services Institutions Bureau (FSIB) by making some amendments. Guidelines for selection of general managers and directors of public sector general insurance companies have been made part of FSIB.
• The amendments were required as the Delhi High Court in its order last year said the BBB is not a competent body to select the general managers and directors of state-owned general insurers.

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Published date : 05 Jul 2022 06:18PM