- New rules for bank boards of directors have been released by the Reserve Bank of India.
- These guidelines apply to international banks operating in India as well as private sector banks.
- These standards do not apply to public sector banks.
- The new regulations require banks to have at least two full-time directors on their board of directors, including the MD and CEO.
- The bank’s board should determine how many whole-time directors are needed, taking into consideration pertinent elements including the size of the firm and its complexity.
- Foreign and private banks have four months to finish this process.
