Explanation

Option A is correct: Following the recommendations of the P.J. Nayak Committee (2014), the Government constituted the Banks Board Bureau (BBB) in 2016 under the Indradhanush framework:

– The primary mandate of the BBB was to select whole-time directors and non-executive Chairmen of Public Sector Banks (PSBs) and public sector financial institutions, recommending them to the Appointments Committee of the Cabinet (ACC).
– Note: In 2022, the Banks Board Bureau was subsequently restructured and transformed into the Financial Services Institutions Bureau (FSIB).

Therefore, the selection was conducted by the Banks Board Bureau — Option A.