Top 10 biz headlines: Fresh bank director norms, RIL faces headwinds & more

From RBI planning to come up with fresh fit-and-proper norms for directors on bank boards to Union Bank of India labeling Suzlon Energy Ltd as a bad loan, here are the top business headlines on Monday

1) After 12 years, RBI set to modify fit-and-proper norms for bank directors

The Reserve Bank of India (RBI) will come up with a fresh set of fit-and-proper norms — last revisited in November 2007 — for directors on the boards of banks. 

The new terms of reference for appointing directors — on state-run and private banks’ boards — are expected to streamline appointments to such posts, taking into account the vocations from which directors are to be drawn and their eligibility, and the role of the nomination committee and the terms of its engagement. (Read more here)