Banks Board Bureau member Sinor withdraws resignation

Mumbai: Veteran banker

H N Sinor

, who had decided to quit the

Banks Board Bureau

(

BBB

) after the government bypassed it in bank appointments, has decided to stay on.

On Sunday, the BBB issued a statement making public Sinor’s change of heart. “In what he perceived as inadequate progress that the recommendations of the bureau were making, and the resulting despondency, he had offered to withdraw his engagement with the bureau. However, following a detailed discussion with Mr Vinod Rai, the chairman of the Banks Board Bureau, Mr Sinor has decided to re-engage with the activities of the bureau, with his usual fervour and vigour,” a statement issued by the bureau said.

The BBB was set up to improve corporate governance in public sector banks and was entrusted with the job of professionalising bank management. Earlier this month, the government abruptly replaced CEOs of three public sector banks. Soon thereafter, Sinor had announced his intent to step down.

The other members of the BBB are Anjuly Chib Duggal, secretary, department of financial services, Seema Bahuguna, secretary, department of public enterprises, N S Vishwanathan, deputy governor, RBI, Anil K Khandelwal, former chairman of Bank of Baroda, and

Roopa Kudva

, former CEO,

Crisil

.