Former CAG Vinod Rai was part of a Supreme Court-appointed four-member Committee of Administrators. The other three members were former Indian captain Diana Edulji, Ramachandra Guha, and Vikram Limaye. An excerpt from his book 'Not Just a Nightwatchman — My Innings in the BCCI'
The appointment will be subject to obtaining requisite regulatory and shareholders’ approvals. TS Kalyanaraman will continue as Managing Director on the Company’s board.
Unity Small Finance Bank is fighting a twin battle. It needs to calm aggrieved PMC Bank depositors. The BharatPe-Ashneer Grover episode dented the JV’s image. Rai’s credentials could act as an antidote.
Several banking industry stalwarts, including RBI veteran Sandip Ghose, former Syndicate Bank CMD Basant Seth and ex-RBL Bank chairman Subhash Kutte have recently joined Unity SFB's board.
According to the outcome of the voting, 62.3 per cent of the shareholders voted against the resolution while 37.7 voted in support. Vinod Rai is currently the Chairman of the Board.
After an eventful 33-month tenure, during which he was witness to the "Good, the Bad and the Ugly" of Indian cricket, Committee of Administrators chief Vinod Rai is happy that someone of Sourav Ganguly's stature is taking over the reins of Indian cricket.
Vinod Rai said that PSBs still have a role to play especially in supporting the infrastructure sector.
Even had the privilege of attending meeting chaired by the Prime Minister on the banking sector, he said, stressing the government never ever interfered in any appointment process and the bureau was given a total free hand.
The BBB was set up by the NDA government in 2016 under former CAG Vinod Rai.
Earlier, Mohammad Shami's wife Hasin Jahan had filed a police complaint against the pacer alleging infidelity and domestic violence.
Former telecom minister A Raja and DMK MP Kanimozhi were today acquitted by a special court in the 2G spectrum scam case. Fifteen others accused in the case and three companies were also acquitted.
The BCCI, in its latest Future Tours Programme (FTP) finalised at a Special General Meeting yesterday, announced that Afghanistan, a team that has made rapid strides despite the constant troubles back home, will play its first ever Test against India.
The list would be sent to the Department of Financial Services to get Appointments Committee of Cabinet (ACC) clearance, sources said. The ACC is headed by Prime Minister Narendra Modi.
Srinivasan, who represented Tamil Nadu Cricket Association (TNCA), walked into the BCCI headquarters here this morning at around 10.45 am and came out of the meeting by 12.30 pm.
Chairman Vinod Rai and members of the Banks Board Bureau have made the recommendations based on interactions held with eligible candidates from public sector banks.
The Chief Economic Advisor said that in any democratic political system, it is difficult to write down debts which favour the private sector.
Vinod Rai, Chairman of the Banks Board Bureau, said that while bad banks had been a success in Spain and Indonesia, its success in India would depend on appointing qualified personnel to take a call on valuations.
The government will further infuse around Rs 8,000 crore into 10 weak public sector banks in the current fiscal as it needs to meet up with set targets for the current fiscal.
Expressing concerns over mounting bad loans, Banks Board Bureau (BBB) Chief Vinod Rai has written to Finance Minister Arun Jaitley and Prime Minister's Office underlining the tardy progress made by state-owned lenders in resolving the issue of Non Performing Assets.
The National Stock Exchange board is wary of its new CEO Vikram Limaye‘s Board of Control for Cricket in India‘s (BCCI) commitments and has approached Vinod Rai-led panel for same, sources said.
"It (Rs 10,000 crore capital infusion) should be enough, because government would probably be going for rights issue also. So, the Rs 10,000 crore will be able to leverage much more from the market," Rai told reporters at the sidelines of the launch of a new Bandhan Bank branch in Delhi today.
Terming consolidation in public sector banks a "long drawn process", Banks Board Bureau (BBB) chief Vinod Rai said it should gather momentum in 2-3 years.
To ensure greater stability and accountability, Banks Board Bureau (BBB) chief Vinod Rai today suggested that managing directors of the public sector banks should be appointed for minimum 6 years.
The government, however, needs to put in place policies that ensure that black money generation doesn‘t happen in future, Banks Board Bureau Chairman Vinod Rai said.
Banks Board Bureau chief Vinod Rai said that the managements of banks are reluctant to take decisions on recasting debt in spite of the concerns that rising bad loans are holding back the country‘s economy.