<h1>Government Unveils PSB Revamp Plan: New Leadership, Rs. 70,000 Crore Capitalization, and Enhanced Governance.</h1> The government has announced a comprehensive plan to revamp public sector banks (PSBs) in response to challenges they have faced in recent years. This includes appointing new managing directors and CEOs for five PSBs, separating the roles of chairman and CEO, and introducing a new framework of key performance indicators to evaluate bank performance. A Bank Board Bureau will replace the Appointments Board for selecting directors and chairmen. The government plans to allocate Rs. 70,000 crore for bank capitalization over four years to ensure compliance with Basel III norms and support economic growth. Additional measures include improving risk control, addressing non-performing assets, and enhancing governance and accountability.