Banks Board Bureau gets 2 more members

Shubhalaxmi Panse and Pradip Shah have been inducted into the board

The government has expanded the Banks Board Bureau (BBB) headed by former comptroller and auditor general Vinod Rai by adding two more members.

Former Allahabad Bank chairperson and managing director Shubhalaxmi Panse and private equity player Pradip Shah have been inducted into the board as independent members, a senior finance ministry official said.

The appointment of two additional members to the BBB will strengthen the panel, the official added.

The body is responsible for selection of managing directors and directors of public sector banks and financial institutions. At times, pre-occupation of some of the members results in postponement or delay in the selection