Former Comptroller, Auditor General and Padma award🏅 recipient, Vinod Rai, has been named as the head of the newly formed Banks Board Bureau(BBB)👏. The constitution of the BBB was approved by PM Modi✅ to help banks in India cope with the crisis created by bad loans😯. BBB is expected to reduce political interference in the functioning of banks👍. The board is expected to recommend appointing directors in public sector banks🏦 and advise on ways to raise funds. The move comes after the Standing Committee on Finance submitted a report📝 that said Government-run banks have accumulated bad loans of over nearly ₹680000 crore💰 leading to a crisis in the banking sector😱.
Duta announces live updates on Monday’s 🇮🇳 Union💰Budget. To follow type into your group: budget