1. Ensuring that the investment company is populated with senior bankers of repute and - therefore - not captured by the government would be a necessary step in this direction. 2. The P J Nayak Committee had made far-reaching recommendations for improving governance in public sector banks (PSBs). 3. The Budget suggests that the government is movingtowards implementing majority of the committee's recommendations. 4. The finance minister announced the intention to set up an autonomous Bank Board Bureau for searching and select heads of the PSBs. 5. The bureau will also help the PSBs in developing differentiated strategies and capital-raising plansthrough innovative financial methods and instruments.