For RBI, bank compliance officers are no Cleopatra

Is the appointment age of the chief compliance officer in a bank capped anywhere in the world?

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The central bank gave options to banks to reverse the funds taken under long-term repo operations (LTROs), to ease their cost of funds.

Tamal Bandyopadhyay New Delhi

6 min read Last Updated : Sep 20 2020 | 8:27 PM IST

Given a choice, the prospective chief compliance officers (CCOs) of the Indian banking system would love to hear the Reserve Bank of India (RBI) describe them the way Enobarbus had described Cleopatra: “Age cannot wither her, nor custom stale her infinite variety”. (William Shakespeare’s Antony and Cleopatra, Act II, Scene II).

The RBI seems to think the compliance officers become stale after the age of 55 and, hence, unsuitable for the position of CCO.

In The Happiness Curve: Why Life Gets Better After 50, author and journalist Jonathan Rauch writes: “Those most likely to notice the arrow of time are the people

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Topics : Reserve Bank of India Indian banking system

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