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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