B M Mittal to join BCSBI as CEO

KOLKATA: After a four-month hiatus, the Banking Codes & Standards Board of India (BCSBI) is all set to get its chief executive officer from the first week of November. The next incumbent will be Uco Bank executive director BM Mittal, who is slated to retire from his banking career on October 30.

When contacted, Mr Mittal confirmed the development. He will assume his new duty on November 3. BCSBI is an independent and autonomous watchdog to monitor and ensure that banking codes and standards adopted by the banks are adhered to in true spirit while delivering their services.

BCSBI���s former CEO, Mr KV Subba Rao had relinquished his position from the independent body on July 10 and thereafter the slot was lying vacant.

Incidentally, Mr Mittal was asked to join BCSBI before his scheduled retirement from Uco Bank. But as Mr Mittal said, he wanted to complete his term in the Kolkata-based public sector bank before assuming the CEO slot of the independent body.

As CEO, Mr Mittal would be entrusted with focusing on spreading awareness among customers and bankers about their rights and obligations enshrined in the codes. BCSBI s next endeavour is to bring about a greater transparency in banks systems and practices through a revised code of bank s commitment to customers. BCSBI is also planning to make scheduled urban cooperative banks and regional rural banks its members to ensure improved banking quality to a larger audience. Protection of customers rights has gained importance worldwide and in this context, BCSBI has been set up in India.