[Jan] Bank Investment company

Question 1

What is P.J.Nayak committee?

Answer 1

1.UNDER BANKING ACTS -> Public sector banks madhe majority government appointed lokanchi -> hi loka political affiliation asleli asayachi -> frauds

2.Nayak committee 2014 -> set up bank investment company under companies act 2013 -> PSBs will be owned by BICs
ex : SBI will become SBI Limited

3. BIC will appoint board of directors & take policy decisions -> Govt. will not intervene.
4. repealing of previous acts & establishment of BIC will take time -> so as of now,government can establish banks board bureau -> it will appoint directors & all .
5. Once BIC is established -> BIC will be dissolved