With reference to lsquo Banks Board Bureau rsquo consider following statements It is a public author...........

Economic Affairs Types of Banks and Banking

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With reference to ‘Banks Board Bureau’, consider following statements

It is a public authority under the Right to Information Act, 2005.
It recommends personnel only for the Public Sector Banks.
It was formed on the recommendations of the P. J. Nayak Committee.

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

Recently, the Banks Board Bureau (BBB) has selected SN Rajeswari as the Chairman and Managing Director (CMD) of the Delhi-based Oriental Insurance Company (OIC). The Banks Board Bureau is a public authority as defined in the Right to Information Act, 2005. The Banks Board Bureau (BBB) has its genesis in the recommendations of ‘The Committee to Review Governance of Boards of Banks in India, May 2014 (Chairman - P. J. Nayak)’. Apart from recommending personnel for the PSBs, the Bureau has also been assigned with the task of recommending personnel for appointment as directors in government-owned insurance companies. Hence only statements 1&3 are correct.