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Question No. 147Interactive Test Mode
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Q147. With reference to the Banks Board Bureau (BBB)’, which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below.

With reference to the Banks Board Bureau (BBB)’, which of the following statements are correct?

  1. The Governor of RBI is the Chairman of BBB.
  2. BBB recommends for the selection of heads for Public Sector Banks.
  3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below.
Select the correct option below (or cross out options to eliminate)

Official Answer Key & Detailed Solution

Ready to check the official UPSC Answer Key?

Click any option above to test yourself under exam conditions, or reveal the explanation directly.

Official UPSC Answer KeyUPSC Prelims 2022 • Indian Economy

Correct Answer: Option (B) — 2 and 3 only

Concept & Option Breakdown

Standard Reference Verified

Statement 1 is incorrect: The Chairman of the Banks Board Bureau (BBB) was an eminent professional or former senior public administrator (e.g., former CAG Vinod Rai was its first Chairman), not the RBI Governor. Statement 2 is correct: BBB was established to recommend candidates for whole-time directors and non-executive chairpersons of Public Sector Banks (PSBs) and public financial institutions. Statement 3 is correct: BBB was tasked with advising PSBs on corporate governance reforms, strategies, capital-raising plans, and leadership development. (Note: BBB has since been replaced by the Financial Services Institutions Bureau - FSIB).

Elimination Heuristic & Exam Approach

The RBI acts as an independent regulator of banks; placing the RBI Governor as head of the body selecting bank executives would create a conflict of interest. Statement 1 is false.

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Question Specifications & Syllabus Mapping

Examination & YearUPSC Civil Services Preliminary Examination 2022 (Q147)
Paper & Marking SchemeGS Paper I • 2 Marks (-0.66 Negative for incorrect response)
Syllabus Subject & TopicIndian Economy → Banking & Financial System
Official Answer KeyOption (B) — 2 and 3 only

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Frequently Asked Questions — UPSC Prelims 2022 Q147

What is the official answer for UPSC Prelims 2022 GS Paper I Question 147 (Indian Economy)?

The official UPSC answer key for this 2022 Indian Economy (Banking & Financial System) question is Option (B): "2 and 3 only". Correct attempts carry 2 Marks with -0.66 Negative penalty for wrong answers.

Which UPSC Prelims syllabus topic does this 2022 question belong to?

This question belongs to GS Paper I under the subject "Indian Economy" and micro-topic "Banking & Financial System". You can explore all repeated questions from Banking & Financial System in Acme AI's 3D Prelims PYQ Realm or practice 50 full-length and sectional tests in the APT Prelims Test Series.

How can I solve this Banking & Financial System UPSC Prelims question using option elimination?

The RBI acts as an independent regulator of banks; placing the RBI Governor as head of the body selecting bank executives would create a conflict of interest. Statement 1 is false.

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