BBB to hold meeting with MDs of PSU banks tomorrow

NEW DELHI: Newly-constituted Banks Board Bureau ( BBB), headed by former CAG Vinod Rai, will meet heads of public sector banks tomorrow to discuss various issues including ways to rein in bad loans.

"We have called meeting of managing directors of 13-15 public sector banks tomorrow to discuss various issues," Rai said here.

The Bureau will be having meeting with each one of them separately, he said.

Issues like bad loans, vacancy at top level, kick-starting of lending are among various issues expected to be discussed.

There are 22 state-owned banks in the country, including SBI, IDBI Bank and Bharatiya Mahila Bank.

The Bureau was constituted earlier this year to help government select heads of public sector banks and financial institutions and assist banks in developing strategies with regard to capital-raising and consolidation.

Besides Chairman, the Bureau has three ex-officio members and an equal number of expert members.

Expert members are ICICI Bank's former joint MD H N Sinor, Bank of Baroda's former CMD Anil K Khandelwal and rating agency Crisil's ex-chief Rupa Kudwa.

Its ex-officio members are Secretary, Department of Public Enterprises, Financial Services Secretary and RBI Deputy Governor.