Quick Links
Quick Links
UPSC Exams
Latest Update
UPSSSC Junior Assistant Admit Card 2025 Fastag Annual Pass 2025 UGC NET Exam Analysis 2025 UGC NET Question Paper 2025 AP LAWCET Result 2025 UGC NET City Slip 2025 UPSC DAF 1 2025 Rajasthan PTET Answer Key 2025 UPSC Prelims Result 2025 UPSC IFS Result 2025 8th Pay Commission Salary Hike News UPSC 2024 Prelims Answer Key UPSC 2026 Calendar UPSC Admit Card 2025 UPSC Prelims Result Date 2025 UPSC Prelims Answer Key 2025 UPSC Prelims 2025 Expected Cut Off UPSC Prelims Exam Analysis 2025 UPSC Final Result 2025 UPSC Topper Shakti Dubey UPSC Application Rejected List 2025 UPSC Application Date Re-Extended UPSC Interview Date 2024 UPSC Notification 2025 UPSC Admit Card 2025 for Prelims UPSC CSE Prelims 2025 Question Paper UPSC IFS Notification 2025 Indian Navy MR Result 2025 Indian Navy SSR Result 2025
Coaching
UPSC Current Affairs
Syllabus
UPSC Notes
Previous Year Papers
UPSC Mains Previous Year Question Papers Last 25 Years UPSC Prelims Question Papers Last 10 Years UPSC Question Papers UPSC CSE Prelims 2025 Question Paper UPSC Mains 2024 Model Answers UPSC 2024 Question Papers UPSC 2023 Question Papers UPSC 2022 Question Papers UPSC 2021 Question Papers UPSC 2020 Question Papers UPSC 2019 Question Papers UPSC 2018 Question Papers UPSC 2017 Question Papers UPSC 2016 Question Papers UPSC 2015 Question Papers UPSC 2014 Question Papers UPSC CSAT Question Papers UPSC IFS Previous Year Paper UPSC Assistant Labour Commissioner Previous Question Year Papers UPSC Combined Geo Scientist Previous Year Paper UPSC APFC Previous Year Question Papers UPSC CMS Previous Year Question Paper UPSC EPFO Previous Year Paper UPSC Air Safety Officer Previous Year Papers UPSC SO Steno Previous Year Paper UPSC IES ISS Previous Year Question Papers
Mock Tests
UPSC Editorial
Bilateral Ties
Albania India Relations India Algeria Relations Andorra India Relations India Angola Relations India Antigua Barbuda Relations India Argentina Relations Austria India Relations India Azerbaijan Relations Bahamas India Relations India Bahrain Relations Barbados India Relations India Belarus Relations Belgium India Relations Belize India Relations Benin India Relations Bolivia India Relations India Bosnia Herzegovina Relations India Botswana Relations Brazil India Relations Brunei India Relations Bulgaria India Relations Burundi India Relations Cabo Verde India Relations India Cambodia Relations India Cameroon Relations Canada India Relations India Cayman Islands Relations India Central African Republic Relations India Chad Relations Chile India Relations India Colombia Relations India Comoros Relations India Democratic Republic Of The Congo Relations India Republic Of The Congo Relations India Cook Islands Relations India Costa Rica Relations India Ivory Coast Relations India Croatia Relations India Cyprus Relations India Czech Republic Relations India Djibouti Relations India Dominica Relations India Dominican Republic Relations India Ecuador Relations India El Salvador Relations India Equatorial Guinea Relations India Eritrea Relations Estonia India Relations India Ethiopia Relations India Fiji Relations India Finland Relations India Gabon Relations India Gambia Relations India Georgia Relations Germany India Relations India Ghana Relations India Greece Relations India Grenada Relations India Guatemala Relations India Guinea Relations India Guinea Bissau Relations India Guyana Relations India Haiti Relations India Holy See Relations India Honduras Relations India Hong Kong Relations India Hungary Relations India Iceland Relations India Indonesia Relations India Iran Relations India Iraq Relations India Ireland Relations India Jamaica Relations India Kazakhstan Relations India Kenya Relations India Kingdom Of Eswatini Relations India Kiribati Relations India Kuwait Relations India Kyrgyzstan Relations India Laos Relations Latvia India Relations India Lebanon Relations India Lesotho Relations India Liberia Relations Libya India Relations Liechtenstein India Relations India Lithuania Relations India Luxembourg Relations India Macao Relations Madagascar India Relations India Malawi Relations India Mali Relations India Malta Relations India Marshall Islands Relations India Mauritania Relations India Micronesia Relations India Moldova Relations Monaco India Relations India Montenegro Relations India Montserrat Relations India Morocco Relations Mozambique India Relations India Namibia Relations India Nauru Relations Netherlands India Relations India Nicaragua Relations India Niger Relations India Nigeria Relations India Niue Relations India North Macedonia Relations Norway India Relations India Palau Relations India Panama Relations India Papua New Guinea Relations India Paraguay Relations Peru India Relations India Philippines Relations Qatar India Relations India Romania Relations Rwanda India Relations India Saint Kitts And Nevis Relations India Saint Lucia Relations India Saint Vincent And Grenadines Relations India Samoa Relations India Sao Tome And Principe Relations Saudi Arabia India Relations India Senegal Relations Serbia India Relations India Sierra Leone Relations India Singapore Relations India Slovak Republic Relations India Slovenia Relations India Solomon Islands Relations Somalia India Relations India South Sudan Relations India Spain Relations India Sudan Relations Suriname India Relations India Sweden Relations India Syria Relations India Tajikistan Relations Tanzania India Relations India Togo Relations India Tonga Islands Relations India Trinidad And Tobago Relations India Tunisia Relations India Turkmenistan Relations India Turks And Caicos Islands Relations India Tuvalu Relations India Uganda Relations India Ukraine Relations India Uae Relations India Uruguay Relations India Uzbekistan Relations India Vanuatu Relations India Venezuela Relations India British Virgin Islands Relations Yemen India Relations India Zambia Relations India Zimbabwe Relations
Books
Government Schemes
Production Linked Incentive Scheme Integrated Processing Development Scheme Rodtep Scheme Amended Technology Upgradation Fund Scheme Saathi Scheme Uday Scheme Hriday Scheme Samagra Shiksha Scheme India Nishta Scheme Stand Up India Scheme Sahakar Mitra Scheme Mdms Mid Day Meal Scheme Integrated Child Protection Scheme Vatsalya Scheme Operation Green Scheme Nai Roshni Scheme Nutrient Based Subsidy Scheme Kalia Scheme Ayushman Sahakar Scheme Nirvik Scheme Fame India Scheme Kusum Scheme Pm Svanidhi Scheme Pmvvy Scheme Pm Aasha Scheme Pradhan Mantri Mahila Shakti Kendra Scheme Pradhan Mantri Lpg Panjayat Scheme Mplads Scheme Svamitva Scheme Pat Scheme Udan Scheme Ek Bharat Shresth Bharat Scheme National Pension Scheme Ujala Scheme Operation Greens Scheme Gold Monetisation Scheme Family Planning Insurance Scheme Target Olympic Podium Scheme
Topics
NASA Space Missions
NASA Mercury-Redstone 3 (Freedom 7) Mission NASA Mercury-Redstone 4 (Liberty Bell 7) Mission NASA Mercury-Atlas 6 (Friendship 7) Mission NASA Mercury-Atlas 7 (Aurora 7) Mission NASA Mercury-Atlas 8 (Sigma 7) Mission NASA Mercury-Atlas 9 (Faith 7) Mission NASA Gemini 3 Mission NASA Gemini 4 Mission NASA Gemini 5 Mission NASA Gemini 7 Mission NASA Gemini 8 Mission NASA Gemini 9 Mission NASA Gemini 10 Mission NASA Gemini 11 Mission NASA Gemini 12 Mission NASA Apollo 1 (AS‑204) Mission NASA Apollo 7 Mission NASA Apollo 8 Mission NASA Apollo 9 Mission NASA Apollo 10 Mission NASA Apollo 11 Mission NASA Apollo 12 Mission NASA Apollo 13 Mission NASA Apollo 14 Mission NASA Apollo 15 Mission NASA Apollo 16 Mission NASA Apollo 17 Mission NASA Skylab Orbital Workshop Mission NASA Skylab 2 Mission NASA Skylab 3 Mission NASA Skylab 4 Mission NASA Apollo–Soyuz Test Project Mission NASA STS‑1 Columbia Mission NASA STS‑3 Columbia Mission NASA STS‑7 Challenger Mission NASA STS‑8 Challenger Mission NASA STS‑41B Challenger Mission NASA STS‑41G Discovery (1st female EVA) Mission NASA STS‑51L Challenger (accident) Mission NASA STS‑26 Discovery (Return‑to‑Flight) Mission NASA STS‑31 Discovery (Hubble Launch) Mission NASA STS‑49 Endeavour (first capture EVA) Mission NASA STS‑61 Endeavour (Hubble Servicing 1) Mission NASA STS‑73 Columbia (microgravity) Mission NASA STS‑95 Discovery (John Glenn returns) Mission NASA STS‑107 Columbia (accident) Mission NASA STS‑114 Discovery (RTF‑2) Mission NASA STS‑120 Discovery (Node 2) Mission NASA STS‑125 Atlantis (Final Hubble Service) Mission NASA STS‑132 Atlantis Mission NASA STS‑135 Atlantis (Final Shuttle flight) Mission NASA Artemis I (Orion/ SLS‑1) Mission NASA Artemis II (Planned) Mission NASA Artemis III (Planned lunar landing) Mission NASA Mariner 4 Mission NASA Mariner 6 Mission NASA Mariner 7 Mission NASA Mariner 9 Mission NASA Viking 1 Orbiter/Lander Mission NASA Viking 2 Orbiter/Lander Mission NASA Mars Pathfinder & Sojourner Mission NASA Mars Global Surveyor Mission NASA 2001 Mars Odyssey Mission NASA Mars Exploration Rover – Spirit Mission NASA Mars Exploration Rover – Opportunity Mission NASA Mars Reconnaissance Orbiter Mission NASA Phoenix Mars Lander Mission NASA InSight Mars Lander Mission NASA Mars 2020 (Perseverance & Ingenuity) Mission NASA Mars Sample Return – SRL (planned) Mission NASA Pioneer 10 Mission NASA Pioneer 11 Mission NASA Voyager 1 Mission NASA Voyager 2 Mission NASA Galileo Jupiter Orbiter/Probe Mission NASA Cassini–Huygens Mission NASA New Horizons (Pluto & KBO) Mission NASA Juno Mission NASA Europa Clipper (planned) Mission NASA Parker Solar Probe Mission NASA Solar Orbiter (ESA/NASA) Mission NASA Surveyor 1 Mission NASA Lunar Orbiter 1 Mission NASA Lunar Prospector Mission NASA LCROSS Mission NASA LADEE Mission NASA Lunar Reconnaissance Orbiter (LRO) Mission NASA CAPSTONE Mission NASA VIPER Rover (planned) Mission NASA NEAR Shoemaker Mission NASA Deep Space 1 Mission NASA Stardust Mission NASA Genesis Mission NASA Deep Impact Mission NASA Dawn (Vesta/Ceres) Mission NASA OSIRIS‑REx Mission NASA Lucy Mission NASA DART Mission NASA Landsat‑1 (ERTS‑1) Mission NASA Landsat‑5 Mission NASA Landsat‑9 Mission NASA Terra Mission NASA Aqua Mission NASA Aura Mission NASA Suomi NPP Mission NASA Sentinel‑6 Michael Freilich Mission NASA ICESat‑2 Mission NASA GRACE‑FO Mission NASA SMAP Mission NASA GPM Core Observatory Mission NASA CALIPSO Mission NASA CloudSat Mission NASA NISAR (NASA‑ISRO) Mission NASA Explorer 1 Mission NASA COBE Mission NASA Compton Gamma Ray Observatory Mission NASA Hubble Space Telescope Mission NASA Chandra X‑ray Observatory Mission NASA Spitzer Space Telescope Mission NASA WISE Mission NASA Kepler Mission NASA TESS Mission NASA Fermi Gamma‑ray Space Telescope Mission NASA NICER Mission NASA IXPE Mission NASA Roman Space Telescope (planned) Mission NASA NuSTAR Mission NASA GALEX Mission NASA Swift Mission NASA SOHO (ESA/NASA) Mission NASA Cluster II (ESA/NASA) Mission NASA TIMED Mission NASA STEREO‑A/B Mission NASA MMS Mission NASA IRIS Mission NASA Solar Dynamics Observatory Mission NASA X‑37B OTV‑1 (USAF/NASA liaison) Mission NASA X‑59 QueSST Mission NASA Mars Helicopter Ingenuity Mission NASA Valkyrie R5 Robot Mission NASA Low‑Boom Flight Demo Mission NASA CRS‑1 Dragon Mission NASA CRS‑1 Cygnus Mission NASA Crew Dragon Demo‑2 Mission NASA Starliner OFT‑2 Mission NASA STS-2 (Shuttle flight) Mission NASA STS-4 (Shuttle flight) Mission NASA STS-5 (Shuttle flight) Mission NASA STS-6 (Shuttle flight) Mission NASA STS-41C (Shuttle flight) Mission NASA STS-41D (Shuttle flight) Mission NASA STS-51A (Shuttle flight) Mission NASA STS-61C (Shuttle flight) Mission NASA STS-26 (Shuttle flight) Mission NASA STS-27 (Shuttle flight) Mission NASA STS-29 (Shuttle flight) Mission NASA STS-30 (Shuttle flight) Mission NASA STS-32 (Shuttle flight) Mission NASA STS-34 (Shuttle flight) Mission NASA STS-38 (Shuttle flight) Mission NASA STS-45 (Shuttle flight) Mission NASA STS-60 (Shuttle flight) Mission NASA STS-70 (Shuttle flight) Mission NASA STS-71 (Shuttle flight) Mission NASA STS-73 (Shuttle flight) Mission NASA STS-88 (Shuttle flight) Mission NASA STS-92 (Shuttle flight) Mission NASA STS-97 (Shuttle flight) Mission NASA STS-99 (Shuttle flight) Mission NASA STS-100 (Shuttle flight) Mission NASA STS-104 (Shuttle flight) Mission NASA STS-106 (Shuttle flight) Mission NASA STS-110 (Shuttle flight) Mission NASA STS-112 (Shuttle flight) Mission NASA STS-115 (Shuttle flight) Mission NASA STS-116 (Shuttle flight) Mission NASA STS-117 (Shuttle flight) Mission NASA STS-118 (Shuttle flight) Mission NASA STS-120 (Shuttle flight) Mission NASA STS-122 (Shuttle flight) Mission NASA STS-123 (Shuttle flight) Mission NASA STS-126 (Shuttle flight) Mission NASA STS-130 (Shuttle flight) Mission NASA Vanguard 1 Mission NASA Transit 1B Mission NASA Echo 1 Mission NASA Telstar 1 Mission NASA Syncom 3 Mission NASA ATS‑6 Mission NASA Skynet Mission NASA Nimbus‑1 Mission NASA Nimbus‑7 Mission NASA ERS-1 Mission NASA SeaSat Mission NASA QuikSCAT Mission NASA Jason‑1 Mission NASA Jason‑3 Mission NASA ICESat Mission NASA Earth Observing‑1 Mission NASA Orbiting Carbon Observatory‑2 Mission NASA CYGNSS Mission NASA PACE Mission NASA TRMM Mission NASA Terrestrial Planet Finder (cxl) Mission NASA Laser Interferometer Space Antenna (LISA) Mission NASA Explorer 33 Mission NASA Voyager Interstellar Mission Mission NASA Helios‑A Mission NASA Helios‑B Mission NASA ISEE‑3 (ICE) Mission NASA ACE Mission NASA DSCOVR Mission NASA IBEX Mission NASA Solar Orbiter Heliospheric Imager Mission NASA SAGE‑III ISS Mission NASA SPACE Telescope Imaging Spectrograph Mission NASA ARIEL (ESA/NASA) Mission NASA OSAM‑1 (Restore‑L) Mission NASA Dragonfly (Titan rotorcraft) Mission NASA VERITAS (Venus orbiter) Mission NASA DAVINCI (Venus probe) Mission NASA SPHEREx Mission NASA MAGGIE (Mars Geophysical) Mission NASA CLPS – Peregrine Mission NASA CLPS – VIPER Delivery Mission NASA CAPSTONE Mission NASA Gateway (HALO / PPE) Mission NASA Mars Telecommunication Orbiter (cxl) Mission NASA Mars Polar Lander (MPL) Mission NASA Mars Climate Orbiter Mission NASA Pathfinder Mission Mission NASA SLS Block 1B (Exploration Upper Stage) Mission NASA Orion Crew Module Mission NASA Commercial LEO Destinations – Axiom Station Mission NASA ISS Expedition 1 Mission NASA ISS Expedition 70 Mission NASA CRS‑11 (Dragon) Mission NASA CRS‑21 (Dragon 2) Mission NASA Snoopy CubeSat Mission
Home / IAS Preparation / Banks Board Bureau

Banks Board Bureau (BBB): Composition, Functions & More| UPSC Notes

Last Updated on May 01, 2024
Also Read Banks Board Bureau in Hindi
Download As PDF
IMPORTANT LINKS
Agriculture Notes For UPSC Public Administration UPSC Notes Modern History Books For UPSC Overseas Citizen Of India Caste System & Panchayati Raj Godavari River Federalism Indira Point New Development Bank Battle Of Sinhagad Sankalp And Strive Schemes Digital India High Yielding Varieties Economic Growth Development League Of Nations Ease Of Doing Business Mid Day Meal Scheme Wildlife Protection Act 1972 UPSC Notes International Union Conservation Nature

The Banks Board Bureau (BBB) was set up in 2016 as an autonomous body responsible for selecting and recommending appointments of whole-time Directors and Chairpersons of Public Sector Banks (PSBs), Public Sector Insurance Companies (PSICs), and Financial Institutions (FIs) in India. It aimed to bring about a more streamlined and professional approach to leadership selection in these institutions.

Banks Board Bureau UPSC is one of the most important topics for UPSC IAS Examination and it falls under the General Studies Paper 1 (preliminary) and General Studies Paper 3 (Mains) under the Indian Economy Section.

In this article on the Bank Board Bureau UPSC, we shall discuss its overview, composition and aims/functions in detail. This will be very useful for aspirants in UPSC Prelims Exam.

Also, study about the 5 Year Plans in India from the linked article.

GS Paper

General Studies Paper III

Topics for UPSC Prelims

Public Sector Banks, Financial Institutions,  Banking Sector, Role of RBI

Topics for UPSC Mains

Banking Sector Challenges, Public Sector vs Private Sector Banks, Impact on Non-Performing Assets (NPAs), Strategies for Financial Health

What is Banks Board Bureau (BBB)?

The Banks Board Bureau (BBB) is an autonomous body in India. It was established in 2016 by the Government of India. BBB's primary purpose is to improve the governance of public sector banks. It plays a crucial role in recommending appointments to top leadership positions in these banks. BBB aims to enhance the efficiency and performance of public sector banks. It recommends candidates for the positions of CEOs, executive directors, and non-executive chairpersons. The bureau also assesses the performance of bank executives and formulates strategies for their development. Overall, the Banks Board Bureau focuses on transforming the banking sector to meet contemporary challenges and improve its competitiveness.

History of Bank Board Bureau in India

The Bank Board Bureau was first recommended in May 2014 by the ‘Committee to Review Governance of Boards of Banks in India’ chaired by P.J. Nayak. Based on the recommendations of the P.J. Nayak Committee, the Central Government in 2016, constituted the Bank Board Bureau as a part of the seven point ‘Indradhanush Mission’ to overhaul the functioning of the PSBs.

The first chairperson of the BBB which was constituted in February 2016 was the former Comptroller and Auditor General of India, Vinod Rai. It is an autonomous recommendatory body and its headquarters are in Mumbai, Maharashtra.

The Bank Board Bureau functions as a replacement for the erstwhile Appointments Board of the Central Government. It is a ‘public authority’ under the Right to Information Act, 2005.

Study about the Public sector undertakings (PSUs) here.

FREEMentorship Program by
Ravi Kapoor, Ex-IRS
UPSC Exam-Hacker, Author, Super Mentor, MA
100+ Success Stories
Key Highlights
Achieve your Goal with our mentorship program, offering regular guidance and effective exam strategies.
Cultivate a focused mindset for exam success through our mentorship program.
2 Lakh+ Students Mentored Get
Get Free Mentorship Now
UPSC Beginners Program

Get UPSC Beginners Program SuperCoaching @ just

₹50000

Claim for free
Want to know more about this pass ?
Explore SuperCoaching

Composition of the Bank Board Bureau

It consists of a Chairman and three ex-officio members. These ex-officio members are the Secretary, Department of Public Enterprises, Secretary of the Department of Financial Services and Deputy Governor of the Reserve Bank of India. It also includes five expert members out of which, two are selected from the private sector.

In August 2015, the Union Government introduced the Banks Board Bureau (BBB) based on recommendations from the Nayak committee, as part of the Indradhanush Mission to revamp Public Sector Banks (PSBs). Located in Mumbai, Maharashtra, the first Banks Board Bureau was established in February 2016, with former Comptroller & Auditor General Vinod Rai as its chairman.

BBB replaced the previous Government Appointments Board and was intended to usher in a new era of governance and business strategies for state-owned banks, making them competitive with their private sector counterparts.

The Banks Board Bureau is composed of a chairman, three ex-officio members (including the Secretary of the Department of Public Enterprises, the Secretary of the Department of Financial Services, and a Deputy Governor of the Reserve Bank of India), and five expert members, two of whom come from the private sector.

Study about the Navratna Companies here.

Functions of the Bank Board Bureau

The primary function of the BBB is to give recommendations for appointment of full-time directors and also the non-executive chairpersons of both the Public Sector Banks (PSBs) as well as the state-owned financial institutions.

  • It also gives recommendations for the appointment of directors in government-owned insurance companies.
  • The final decision on the appointments is taken by the Ministry of Finance in consultation with the Prime Minister’s Office.
  • With the help of BBB, it is envisioned to improve the functioning of Public Sector Banks and State-Owned Banks and make them comparable to their private counterparts.
  • It also holds interactions with the board of directors and other signatories of various public sector banks to devise suitable plans for their growth and development.
  • This is done to generate funds through various financial methods and also to cope up with stressed assets.
  • It also has the responsibility to enhance the corporate governance of public sector banks and also ensure their capacity building.
  • BBB also provides guidance to banks on their mergers and consolidations including improving their governance standards to deal with the issue of ‘bad loans’ and ‘Non-Performing Assets’.

Study about the Priority Sector Lending (PSL) Scheme here.

Criticisms Faced by the Banks Board Bureau

Critics argue that the BBB has had limited success in achieving its objectives of improving governance and efficiency in PSBs. They contend that several governance issues persist in these banks, casting doubts on the effectiveness of the BBB's recommendations.

Some critics raise concerns about the influence of the government in the functioning of the BBB. They argue that the final decision-making power on appointments and reforms ultimately lies with the government.

Read the article on the Lead Bank Scheme!

Dissolution of the Banks Board Bureau (BBB)

In 2021, a Delhi High Court order questioned the legality of the BBB's appointment of a director in a national insurance company. The court ruled that the BBB lacked the authority to appoint someone less experienced than existing contenders. Following the court order, several directors appointed by the BBB resigned. This created uncertainty and instability in leadership positions.

The government felt a new approach was needed to address the concerns raised about the BBB's functioning and effectiveness. The Appointments Committee of the Cabinet (ACC) dissolved the BBB in 2021.

Read the article on the Difference Between Payments Bank and Small Finance Bank!

Financial Services and Institutions Bureau (FSIB)

The Financial Services and Institutions Bureau (FSIB) was set up in 2021 to replace the dissolved BBB. It aims to build upon the BBB's objectives while addressing the concerns raised.

Key Functions of the FSIB

The FSIB inherits most of the functions of the BBB. This includes advising the government on appointments, developing a data bank, and promoting good governance practices. The FSIB emphasizes domain expertise in its composition, aiming to avoid the legal challenges faced by the BBB. The FSIB works in conjunction with a Search and Selection Committee (SSC) for shortlisting candidates for leadership positions.

Composition of FSIB

  • Chairperson - Appointed by the Appointments Committee of the Cabinet (ACC).
  • Members - Domain experts from the financial services and insurance sectors.
  • Ex-officio Members - Secretaries from the Department of Financial Services, Department of Personnel and Training (DoPT), and a representative from the Reserve Bank of India (RBI).

Significance of FSIB

  • Ensures a professional and transparent process for leadership selection in PSBs, PSICs, and FIs.
  • Aims to attract and retain high-caliber leadership for these institutions, crucial for their growth and performance.
  • Promotes good governance practices within the financial services and insurance sectors.

Checkout the test series for UPSC IAS Exam here.

Major Takeaways

  • The BBB was set up in 2016 as an autonomous body to recommend appointments for top leadership positions (whole-time Directors & Chairpersons) in Public Sector Banks (PSBs), Insurance Companies, and Financial Institutions.
  • It aimed to streamline and professionalize leadership selection in PSBs, promoting good governance practices.
  • Key Functions: Advising the government on appointments, developing a performance database, formulating a code of conduct for leadership, and recommending training programs.
  • In 2021, it faced legal challenges regarding appointment authority and witnessed resignations due to court rulings. The government dissolved the BBB to address these concerns.
  • The Financial Services and Institutions Bureau (FSIB) was established as a successor to the BBB.
  • The FSIB works collaboratively with a Search and Selection Committee (SSC) for shortlisting candidates.
  • Both the BBB and FSIB highlight government efforts to ensure a professional, transparent, and expertise-based system for selecting leaders in critical financial institutions.

We hope that all your doubts regarding the Bank Board Bureau UPSC will be cleared after going through this article. You can download the Testbook App now to check out various other topics relevant to the UPSC IAS Exam.

More Articles for IAS Preparation

Bank Board Bureau UPSC FAQs

The Financial Services and Insurance Board (FSIB) replaced the Bank Board Bureau in 2021.

No, the RBI governor is not the chairman of Bank Board Bureau. The BBB is headed by a chairman who is appointed separately.

The bank board bureau chairman is appointed by the government of India.

The Banks Board Bureau (BBB) was formed in 2016.
Report An Error
Exams Tests Super Practice