Tag: banks

MUMBAI: The RBI has mandated private sector banks to have at least two whole-time directors in addition to the MD & CEO. RBI has said that banks that do not have two executives as directors will have to submit proposals for the same within four months. According to the central bank, the requirement of two WTDs has become imperative given the growing complexity in the banking sector."Establishment of such a team may also facilitate succession planning, especially in the background of the regulatory stipulations in respect of tenure...