 "RBI")
A chief executive officer (CEO) or whole-time director (WTD) of a bank could work till she or he turned 70, and any promoter or major shareholder should not continue as CEO for more than 10 years, the Reserve Bank of India (RBI) reiterated on Thursday.
But if the CEO or WTD is not a promoter or major shareholder, the person can stay in office for 15 years.
The person stands a chance for re-appointment only after three years, the period in which there should be no association with the bank in any capacity.
“This will not only help in achieving
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