Recently RBI has directed that the Board of Directors of banks will have at least 2 whole time directors including MD and CEO.

Recently RBI has directed that the Board of Directors of banks will have at least 2 whole time directors including MD and CEO.

Daily Current Affairs   /   Recently RBI has directed that the Board of Directors of banks will have at least 2 whole time directors including MD and CEO.

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Category : Business and economics Published on: October 27 2023

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  • The Reserve Bank of India has recently issued new guidelines for the Board of Directors of banks.
  • These guidelines are for private sector banks and foreign banks located in India.
  • Public sector banks have not been included in these guidelines.
  • According to the new guidelines, it will be mandatory for banks to include at least 2 whole-time directors including the MD and CEO on their board of directors.
  • The number of whole-time directors should be decided by the Board of the bank taking into account factors such as size of operations, business complexity and other relevant aspects.
  • Private and foreign banks have been given 4 months time to complete this process.
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