(5) Former Comptroller andAuditor General (CAG) of IndiaVinod Rai stepped downfrom private sector lenderIDFC Bank’s board on 1 August2016. The decision wasaimed to avoid conflict of interestas Mr. Rai is also thechairman of Bank Board Bureau(BBB) which will not onlyselect board members of publicsector banks but will alsodevise strategies for them.