Chasing rainbows

As the government readies its plans for Indradhanush 2.0. It's worth wondering about the functioning of the Banks Board Bureau (BBB), an autonomous entity, was a key element of
Indradhanush 1.0. a seven point programme announced in August 2015 to revemp the functioning of the public sector
banking system. The ambitious mandates​ include appointing
bank chiefs and senior officers, suggesting mergers acquisitions, advising banks on innovative financial methods to raise capital and putting in place a governance and accountability framework for India's 27 state - owned bank
that accounts for almost 74 per cent of the country's banking activity. But since it started  functioning in April 2016, the six
member BBB, headed by former
C and auditor - general Vinod Rai has been conspicuous by its inaction.
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