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Banks must swear by RBI’s norms on governance × Radical reforms are also needed from the govt for a material improvement in the governance of PSBs The Reserve Bank of India (RBI) issued operative guidelines with regard to the appointments of MD and CEO, Whole Time Director, Chairperson, Non-Executive Directors and composition of important committees last month, as part of its measures to strengthen corporate governance standards in commercial banks. Further, the regulator plans to bring out a ‘Master Direction on Governance’ in commercial banks, based on the ‘Discussion Paper on Gov...

  We wish to inform you that at the meeting of the Board of Directors of the Corporation held today i.e., May 7, 2021, the Board approved the audited financial results of the Corporation (both standalone and consolidated) for the year ended March 31, 2021, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).   We would like to state that the statutory auditors of the Corporation have issued audit reports with unmodified opinion on the financial statements.   A copy of the said r...

Loading the player... India's smartphone industry grew 23% in Q1; Xiaomi leads, Samsung second India's smartphone shipments grew by a robust 23 per cent in the first quarter of calendar year 2021 at over 38 million units, the latest research report by Counterpoint's Market Monitor has said. This was the highest ever first quarter shipment in the country which was boosted by new product launches, promotions and financial schemes, as well as pent-up demand from last year. 30 vaccines to battle COVID by Dec; 5 from India Indian authorities may be worrying how to inoculate all its citizens above...

RBI imposes ceiling of 70 years for MD, CEO of bank Top Searches RBI imposes ceiling of 70 years for MD, CEO of bank PTI / Apr 26, 2021, 19:03 IST FacebookTwitterLinkedinEMail With regard to upper age limit for MD & CEO and WTDs in the private sector banks, the RBI said that no person can continue on such positions beyond the age of 70 years. (Representative image) MUMBAI: The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector bank at 15 years and prescribed the maximum age of 70 years for such functionaries. These directives ...

RBI caps bank MD, CEO tenure at 15 yrs, puts upper age limit of 70 yrs The central bank also fixed the maximum age limit for chairman and non-executive directors (NED) at 75 years. BusinessToday.In | April 26, 2021 | Updated 19:27 IST RBI said no person can continue as MD and CEO or WTD beyond the age of 70 years. The Reserve Bank of India (RBI) on Monday capped the tenure of MD, CEO and whole-time director (WTD) of private sector banks at 15 years and said the upper age limit for these posts will be 70 years. The central bank's directive is part of the instructions issued by RBI regarding ...