RBI issues instructions on governance for banks, incl Pvt Banks, SFBs, Wholly Owned Subsidiaries of Foreign Banks
Circular not be applicable to foreign banks operating as branches in India
Post of MD & CEO or WTD (Whole Time Director) can't be held by same incumbent for >15 yrs
Circular not be applicable to foreign banks operating as branches in India
Post of MD & CEO or WTD (Whole Time Director) can't be held by same incumbent for >15 yrs
*THREAD* (RBI on Bank CEOs)
#RBI: #Bank MD & CEO/WTD can be re-appointed after a gap of 3 years if considered necessary/desirable by the board (once 15 years completed)
WTD, MD & CEO cannot be associated with a bank in any capacity during 3-year cooling-off period
#RBI: #Bank MD & CEO/WTD can be re-appointed after a gap of 3 years if considered necessary/desirable by the board (once 15 years completed)
WTD, MD & CEO cannot be associated with a bank in any capacity during 3-year cooling-off period
RBI: Upper age limit for #MD & CEO and WTDs in pvt #banks would continue to be 70 years
MD&CEO or WTD who is also a promoter/ major shareholder, cannot hold these posts for > 12 years
RBI may allow promoter WTD/MD & #CEO to continue up tp 15 years in extraordinary circumstances
MD&CEO or WTD who is also a promoter/ major shareholder, cannot hold these posts for > 12 years
RBI may allow promoter WTD/MD & #CEO to continue up tp 15 years in extraordinary circumstances
RBI on #bank MD & CEO | While examining the matter of re-appointment of such #MD & #CEOs or WTDs within the 12/15 years period, the level of progress, adherence to RBI’s promoter shareholding norms to be factored in by #RBI during re-appointments
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