Question
The Chairman of public sector banks are selected by the
(a) Banks Board Bureau.
(b) Reserve Bank of India.
(c) Union Ministry of Finance.
(d) Management of concerned bank.
Answer:
A
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Explanation:
The Chairman of public sector banks in India is selected by the Banks Board Bureau (BBB). The BBB is an autonomous body that was set up by the Government of India to improve the governance and oversight of public sector banks. It is responsible for recommending appointments for the positions of Chairman, Managing Director, and other top executive positions in public sector banks. The BBB considers various factors such as the performance, suitability, and integrity of the candidates before making its recommendations. The final appointment is made by the Appointments Committee of the Cabinet, which is headed by the Prime Minister of India.