RBI in its Discussion Paper on Governance in Commercial Banks in India proposed to set the upper age limit of CEOs and whole time directors belonging to the promoter group of banks to 70 years and maximum tenure of how many years?

2020

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

RBI in its Discussion Paper on ‘Governance in Commercial Banks in India’ proposed to set the upper age limit of CEOs and whole time directors belonging to the promoter group of banks to 70 years and maximum tenure of how many years?

A	10 years
B	15 years
C	5 years
D	7 years

Explanation:

Detailed explanation-1: -MUMBAI: The RBI has proposed an upper age limit of 70 years for CEOs and whole-time directors of banks and a maximum term of 10 years for those belonging to the promoter group, as part of the exercise to improve governance in the banking sector.

Detailed explanation-2: -As per a government notification dated November 17, 2022, the term for the appointment has been extended to 10 years, from the earlier 5 years, subject to superannuation age of 60 years.

Detailed explanation-3: -’ (DAKSH)’ is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.

Detailed explanation-4: -75 years is set as the maximum age limit for chairman and non-executive directors.

Detailed explanation-5: -The RBI runs the ‘RBI Kehta Hai’ campaign to educate and empower the public about banking regulations, and also to make them aware of good and safe banking practices. It was a multi-media multi-lingual campaign using SMSes, print, television channels, radio, hoardings, websites and social media.

There is 1 question to complete.