Current Affairs - Persons - Discussion

The government has constituted a seven-member panel to select managing directors of public sector insurance companies. The panel would be headed by Banks Board Bureau (BBB) chairman B P Sharma. The other members of the panel are Financial Services Secretary, Department of Public Enterprises Secretary and Chairman of Insurance Regulatory and Development Authority of India. Three insurance sector experts G N Bajpai, Mathew Varghese and T Bhargava have also been appointed on the selection panel. In 2014 the Modi government had constituted BBB to select managing directors and chairman for public sectors banks after the post of CMDs was bifurcated into two separate positions as non-executive chairman and managing director.