Former finance secretary Rajiv Kumar appointed PESB chairman

Former finance secretary Rajiv Kumar appointed PESB chairman

Rajiv Kumar is credited for several reforms in the country’s banking sector, from cleaning up bad loans to strengthening public sector banks (PSBs).
Current Affairs : Previous Finance Secretary Rajiv Kumar was on Wednesday designated Chairman of Public Enterprises Selection Board (PESB) for a time of three years.
Kumar, 60 and a 1984 bunch Jharkhand unit IAS official, was in July 2019 assigned as the Finance Secretary and resigned in February this year. He will succeed the officeholder Kapil Dev Tripathi, a 1980 bunch resigned Assam-Meghalaya framework IAS official.
The Appointments Committee of Cabinet (ACC) headed by Prime Minister Narendra Modi affirmed the arrangement of Kumar as Chairman PESB for a time of three years from the date of supposition of charge of the post or until further requests, whichever is prior, said a Ministry of Personnel request.
Kumar was moved to the force service in a significant bureaucratic reshuffle on July 24 a year ago.
An admirer of Indian old style music and an ardent trekker, Kumar has more than three many years of involvement with open arrangement and organization across different areas. He has BSc and LLB degrees, alongside an experts in open strategy and supportability.
He took over as the budgetary administrations secretary in September 2017 and started a few changes in the nation’s financial segment, to tidy up the terrible credit mess and to make open part banks (PSBs) more grounded.
Kumar initiated the administration’s bigger arrangement of solidifying a couple of greater banks, beginning with Bank of Baroda’s merger with Dena Bank and Vijaya Bank, making it the third biggest PSB in the nation. He additionally started a record measure of capital mixture into PSBs to augment banks’ ability to loan.
Other than this, Kumar has been a piece of the monetary allowance making exercise thrice. He assumed a key job in taking ahead Prime Minister Modi’s arrangement of monetary consideration, planned for boosting credit access and employment creation, through lead plans, for example, Pradhan Mantri Jan Dhan Yojana, Mudra advance plan, among others.
He is known to have started and actualized the 59-minute advance plan for the MSME part. The PESB, under the Ministry of Personnel, Public Grievances and Pensions, is answerable for the determination and arrangement of executive, overseeing chief or administrator cum-overseeing chief, and practical chief in open area endeavors (PSEs) just as in posts at some other level as might be indicated by the legislature.

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