CURRENT AFFAIRS

Detailed explanation-1: -RBI approves Atanu Chakraborty appointment as HDFC Bank part-time chairman.

Detailed explanation-2: -Private sector lender HDFC Bank on Friday said the Reserve Bank of India has approved appointment of former Economic Affairs Secretary Atanu Chakraborty as the part-time chairman of the bank.

Detailed explanation-3: -Atanu Chakraborty is at present the Chairperson of HDFC Bank, India’s largest lender by market capitalization, appointed by the Reserve Bank of India in April 2021.

Detailed explanation-4: -To recommend the selection and appointment of Board of Directors in Nationalised Banks, Financial Institutions and Public Sector Insurance Companies (Whole Time Directors and Chairman);

Detailed explanation-5: -While the appointments are made by the appointment committee of the cabinet headed by the Prime Minister, the candidates are selected by a Financial Services Institutions Bureau – a body set up under the department of financial services, which replaced the Banks Board Bureau.