Private banks must have two wholetime directors: RBI
Thursday, 26 October 2023 The Reserve Bank of India (RBI) has directed private sector banks to appoint at least two whole-time directors (WTDs) in addition to the managing director and CEO. Banks that do not have two WTDs must submit proposals within four months. The RBI believes that having a team of WTDs will aid in succession planning and address the complexity of the banking sector. The central bank has given banks the autonomy to determine the number of WTDs based on factors such as business complexity and operational size.
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The Reserve Bank of India has directed private banks and wholly-owned subsidiaries of foreign banks to have at least two Whole Time Directors (WTDs) on their... IndiaTimes
RBI added that the number of Whole Time Directors shall be decided by the Board of the bank by taking into account factors such as the size of operations,... Zee News
Thursday, 26 October 2023
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