Nomination of Shri Bhushan Kumar Sinha, Joint Secretary as Director on the Board of NABARD

## Report on Nomination of Director to the Board of NABARD **1. Executive Summary:** This report analyzes a notification from the Ministry of Finance, Department of Financial Services, regarding a change in the Board of Directors of the National Bank for Agriculture and Rural Development (NABARD). The notification, published on June 27, 2022, nominates Shri Bhushan Kumar Sinha as a Director, replacing Shri Sanjeev Kaushik. This amendment signifies a change in personnel overseeing the strategic direction and governance of NABARD. **2. Introduction:** This report provides an overview of a notification issued by the Ministry of Finance, concerning the nomination of a Director to the Board of Directors of the National Bank for Agriculture and Rural Development (NABARD). This analysis is based solely on the information contained within the provided policy text. **3. Policy Overview:** This document serves as an amendment through notification regarding the composition of the Board of Directors for NABARD. * **Core Objective(s):** The core objective, inferred from the text, is to maintain an active and functioning Board of Directors for NABARD by filling a vacant director position. This ensures continued governance and oversight of the bank's operations. **4. Background and Rationale:** This notification serves as an amendment regarding the personnel on the Board of Directors for NABARD. The likely reason for this specific amendment is to fill a vacancy created by the departure of Shri Sanjeev Kaushik, thereby ensuring the Board maintains its full complement of directors and continues to function effectively. The text indicates a need to ensure continuity in NABARD's governance structure. **5. Key Provisions / Changes:** This notification functions as an amendment introducing the following changes: * **Specific Part of the Original Policy Being Changed:** The notification amends the composition of the Board of Directors of NABARD. * **New Rule/Provision:** Shri Bhushan Kumar Sinha, Joint Secretary, Department of Financial Services, Ministry of Finance, New Delhi, is nominated as a Director on the Board of Directors of NABARD, effective immediately or until further orders. * **Difference/Effect of this Change:** This replaces Shri Sanjeev Kaushik with Shri Bhushan Kumar Sinha as a Director. This ensures that the position is filled, and the board continues to operate with its intended number of directors. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders directly affected by this change are: * **NABARD:** The institution itself, as the composition of its Board of Directors is being altered. * **Shri Bhushan Kumar Sinha:** The newly appointed Director. * **Ministry of Finance, Department of Financial Services:** As the nominating body, the ministry is directly involved. * **Agriculture and Rural sectors:** The sectors served by NABARD, as changes to the Board can influence the bank's strategic direction and policies. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Finance, specifically the Department of Financial Services, is responsible for nominating the Director. NABARD is responsible for integrating the new Director into the Board. * **Timelines or Procedures:** The nomination is effective immediately or until further orders, suggesting a swift implementation. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this change is to ensure the continuity of effective governance and strategic direction within NABARD. The appointment of a Joint Secretary from the Department of Financial Services suggests a desire for continued close alignment between NABARD's policies and the government's financial objectives. **9. Conclusion:** The nomination of Shri Bhushan Kumar Sinha as a Director on the Board of NABARD represents a personnel change within the bank's governance structure. This amendment aims to maintain a functional and effective Board, ensuring NABARD can continue its mandate of supporting agriculture and rural development. The immediate effect of the nomination emphasizes the importance of a fully staffed Board for the bank's operations.

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