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BANKING SERVICE COMMISSION (REPEAL) ACT, 2003
29 of 2003
April 30, 2003
An Act to repeal the Banking Service Commission Act, 1984 Be it enacted by Parliament in the Fifty-fourth Year of the Republic of India as follows:— Statement of Objects and Reasons.—The Banking Service Commission Act was enacted in 1984 to provide for the establishment of a Commission for recruitment and selection of officers for appointment to services and posts in public sector banks and for matters connected therewith or incidental thereto. 2. The need for establishing a Commission was felt as the Banking Service Recruitment Boards, which were conducting examinations for the banks under the scheme evolved by the Central Government in 1978, led to duplication of efforts and wastage of resources. Further, in addition to the establishment of the Commission, the then existing Banking Service Recruitment Boards (BSRBs) were to continue making recruitment to clerical cadre. Before the Commission could be established, the BSRBs were reorganised in 1985. The question of establishing the Commission was again reviewed in 1987 and it was decided that this may be deferred as the restructured system of BSRBs was working satisfactorily for the recruitment of clerical cadre and officers of banks. 3. Taking into consideration the decline in manpower requirements due to consolidation and mechanisation, a proposal was made in the Budget Speech for the year 2001-2002 to abolish the BSRBs to provide greater autonomy to bank managements in framing their own recruitment strategy. As a follow-up measure, all the BSRBs have since been closed. Banks have also been advised to frame their own recruitment strategy with the approval of their Boards to meet their future requirements. In the changed scenario, it is felt that keeping alive the Banking Service Commission Act, 1984 on the statute book without setting up the Commission is not justified. It is, therefore, proposed to repeal the Banking Service Commission Act, 1984. 4. The Bill seeks to achieve the above object.
SECTION 01: SHORT TITLE
This Act may be called the Banking Service Commission (Repeal) Act, 2003.
SECTION 02: REPEAL OF ACT 44 OF 1984
The Banking Service Commission Act, 1984is hereby repealed.
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