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RBI new guidelines
May 1 , 2021
1093 days
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- The RBI recently laid down set of instructions to improve the corporate bank governance.
- The post of MD and CEO shall not be held by the same person for more than 15 years.
- However, they can be reappointed after a cooling period of three years.
- The MD or the CEO shall not hold these posts more than twelve years.
- However, in extraordinary circumstances, they shall be allowed to continue till 15 years.
- The guidelines are not applicable to the foreign banks whose branches are operating in the country.
- The maximum age limit of the Chairman or the Non-Executive Director has been fixed at 75 years.
- The fixed remuneration for the Non-Executive Directors shall not exceed Rs 20 lakhs.
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