Prime Minister has approved the proposal of the Department of Financial Services for the constitution of the Banks Board Bureau with Mr Vinod Rai, former CAG as its chairman. Mr Anil K. Khandelwal, former CMD of Bank of Baroda, Ms. Rupa Kudwa, former MD & CEO, CRISIL and Mr H.N. Sinor, former Joint MD, ICICI Bank will be members of the autonomous body.The Banks Board Bureau, BBB is a super authority for public sector unit lenders to recommend board level appointments and advise on strategies for raising funds as well as mergers and acquisitions.