2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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12 years
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10 years
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15 years
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20 years
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Detailed explanation-1: -Note : The Reserve Bank of India (RBI) has capped the tenure of managing directors (MDs) and chief executive officers (CEOs) and whole-time directors (WTDs) of private banks at 15 years from the date of appointment. For CEOs who are part of the promoter group or large shareholder, the tenure is capped at 12 years.
Detailed explanation-2: -Tenure: The CCO shall be appointed for a minimum fixed tenure of not less than 3 years.
Detailed explanation-3: -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-4: -Profile of Central Board Directors Member shall hold office for a term of four years.
Detailed explanation-5: -So far, the government has been appointing managing directors and chief executive officers at public sector banks for a maximum period of three years or till they reach the age of 60 years, whichever is earlier.