RBI caps tenure of bank MD and CEOs to 15 years

In a major reform step, the Reserve Bank of India (RBI) has capped the tenure of bank MD and CEOs with immediate effect. In a circular to all the commercial banks on Monday, the RBI said that the posts of Managing Director (MD) and Chief Executive Officer (CEO) or Whole Time Director (WTD) cannot be held for more than 15 years.

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