Which of the statements given below about quot quot Banks Board Bureau BBB quot quot are correct 1 n...........

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Which of the statements given below about ""Banks Board Bureau (BBB)"" are correct?

1. It will recommend for appointment of heads in PSBs and Financial Institutions.

2. It will help PSBs in developing strategies and capital raising plans.

3. It will improve the governance of the Public Sector Banks (PSBs).

Select the correct answer using the code given below:

1 only

1 and 3 only

2 and 3 only

1, 2 and 3

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Explanation:

With a view to improve the Governance of Public Sector Banks (PSBs), the GoI appointed an autonomous Banks Board Bureau (BB(B) which started functioning from 1st April, 2016. The Board has three ex-officio members and three expert members in addition to a Chairman. The following are the functions of the BBB

It will be responsible for the selection and appointment of Board of Directors in PSBs and Financial Institutions (FIs).It will advise the Government on matters relating to appointments, confirmation or extension of tenure and termination of services of the Board of Directors.
It will help banks to develop a robust leadership succession plan for critical positions.
It will build a data bank containing data relating to the performance of PSBs/FIs and its Officers.
It will advise the Government on the formulation and enforcement of a code of conduct and ethics for managerial personal in PSBs/FIs.
It will advise the Government on evolving suitable training and development programmes form anagement personnel in PSBs/FIs.
It will help banks in terms of developing business strategies and capital raising plan etc.