Dilution of government's stake below 51 per cent in public sector banks (psbs) does not amount to privatisation, says pj nayak, chairman of. Shikha sharma's entry into axis bank was far from smooth pj nayak, who had headed the erstwhile uti bank since january 2000, was keen. The extent of shareholder value we are able to create p j nayak chairman & ceo chairman & ceo's letter to the shareholders. Raghuram rajan committee report on financial sector reforms pj nayak committee to review governance of boards of banks in india. Banks board bureau (bbb) is an autonomous body of the government of india tasked to the bbb works as step towards governance reforms in public sector banks (psbs) as recommended by pj nayak committee bhanu pratap sharma .
India (chair: dr p j nayak may 2014), which envisaged the bureau as a precursor to a company which would eventually hold the government's investments in. As per the observations of the p j nayak committee on public sector banks, the right to information act (rti) is a major constraint which is.
The public sector banks have to undergo some immediate and drastic reform measures if they have to continue in good financial health. It's not easy to describe pj nayak is he a bureaucrat or a banker in his 25-year -long career in the financial services world, he has worn many. This was after several experts, including the p j nayak committee, had recommended that the government exit its majority stake in state-run.
A panel headed by pj nayak who was ex-chairman of axis bank suggested that governance in psbs was ridden with constraints imposed on them externally. P j nayak member k j udeshi member yezdi h malegam member c k g nair secretary appointed member of the th finance commission with e ect from. It does incorporate some of the initiatives mentioned in nayak committee recommendations made in pj nayak committee report reform.
Many of the measures taken were suggested by p j nayak sector ( recommendation of p j nayak committee) bank boards bureau- bbb will. The firm has also appointed pj nayak as the chairman and shivanand nimbargi as managing director and ceo of ayana renewable power,.
The government has accepted almost all major recommendations of p j nayak committee, except bringing down government stake below 51% we give a low. Pj nayak committee - recommendations, advantages and disadvantages question - autonomy for public sector banks continues to remain a contentious. In a day of high drama, axis bank chairman p j nayak today resigned after the board voted against his opposition to the appointment of shikha.