Central
CIRCULAR ON CORPORATE GOVERNANCE IN BANKS - APPOINTMENT OF DIRECTORS AND CONSTITUTION OF COMMITTEES OF THE BOARD – RBI.
A Discussion Paper on ‘Governance in Commercial Banks in India’ was issued by the Reserve Bank on June 11, 2020 to review the framework for governance in the commercial banks. Based on the feedback received, a comprehensive review of the framework has been done, and a Master Direction on Governance will be issued in due course. In order to address a few operative aspects received through such feedback, it has been decided to issue instructions with regard to the Chair and meetings of the board, composition of certain committees of the board, age, tenure and remuneration of directors, and appointment of the whole-time directors (WTDs).
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