Published:May 22, 2017 2:18 am
H N Sinor, who decided to quit as Member of the Bank Board Bureau (BBB) recently, will continue as a Member of the Bureau. “Following a detailed discussion with Vinod Rai, Chairman of the BBB, Sinor has decided to re-engage with the activities of the Bureau, with his usual fervour and vigour,” BBB said.
“Sinor has been an invaluable asset as a non-official member of the Banks Board Bureau. He brings with him rich experience of public and private sector banking. In the Bureau, he has been associated with some dynamic initiatives including the conceptualising of a new compensation suite involving ESOPs and other performance linked incentives for public sector banks,” it said.
In what may be perceived as inadequate progress that the recommendations of the Bureau were making, and the resulting despondency, he had recently offered to withdraw his engagement with the BBB. “Rai has welcomed the decision of Sinor and expressed satisfaction in continuing to have his guidance and advice,” BBB said.
The Bureau is responsible for selection of heads of public sector banks, and for wholetime directors and non-executive chairman on the boards of PSBs. The Bureau, which will in due course turn into a bank investment holding company, would also help banks develop strategies and capital raising plans.
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