With a view to improve the Governance of Public Sector Banks (PSBs), the Government had decided to set up an autonomous Banks Board Bureau. The Bureau will recommend for selection of heads - Public Sector Banks and Financial Institutions and help Banks in developing strategies and capital raising plans. Now, the Government has announced the constitution of Banks Board Bureau which will have three ex-officio members and three expert members in addition to Chairman. All the Members and Chairman will be part time. The BBB, which will start functioning from 1st April, 2016 is constituted as follows:

Sl No.	Name/Designation	Designation
1	Shri Vinod Rai, Former CAG of India	Chairman
2	Secretary, Department Financial Services	Ex-officio member
3	Secretary, Department of Public Enterprises	Ex-officio member
4	Deputy Governor, Reserve Bank of India	Ex-officio member
5	Shri Anil K. Khandelwal, Former CMD of Bank of Baroda	Member
6	Shri H.N. Sinor, Former Joint MD, ICICI Bank	Member
7	Ms. Rupa Kudwa, Former MD&CEO, CRISIL	Member

Bank governance strengthened through an autonomous Banks Board Bureau to advise on senior appointments and strategic capital planning. Creation of an autonomous Banks Board Bureau to improve governance of Public Sector Banks by recommending heads of banks and financial institutions and assisting in strategy and capital raising plans. The Bureau is a part time body comprising a Chairman, three ex officio members and three expert members, centralizing oversight and succession recommendations for the public banking sector and commencing operation on the announced start date.