...........In general, it seems the questions nobody has asked are: can PSB board members really provide the management with guidance and control as their mandate formally requires? Does the composition of the board matter for the bank's performance during a crisis? Attempts to improve the quality of PSB boards have been made in the past without results. For example, the Ganguly committee on corporate governance in banks had raised some critical issues way back in 2002. Among other things, the committee had suggested that the boards must have eminent people who are capable of providing a necessary oversight coupled with their duties of loyalty to the shareholders and provide the necessary checks and balances. The board should also be empowered to question the management and ...............
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