Bank body seeks wider engagement with government

New Delhi, March 21: The Banks Board Bureau headed by former CAG Vinod Rai has sought a wider mandate and a greater organic link with the government to provide greater utility on matters of governce and performance of public sector banks (PSBs).

In a compendium of recommendations published on its website, the Bureau sought from the government the mandate to engage with various stakeholders and offer advice to ensure that the PSB consolidation is least disruptive.

Seeking dialogue with the Fince Ministry, it said that without a greater interaction with the Ministry, the Bureau was merely functioning as an appointment board.

“If the government does indeed desire to make the Bureau address issues of governce around PSBs in a holistic manner and make its output effective, there is need for an organic relationship between the government and the Bureau,” it said.

The Bureau added that it had made various recommendations to address the root cause of the challenges presently faced by the PSBs but was not aware of the progress made in that regard and that there had been no further engagement with government. (IANS)