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70 years upper age for private bank CEOs, whole-time directors: RBI

Adds banks are free to set lower retirement age

Reuters Mumbai

The Reserve Bank of India said the upper age limit for managing directors, chief executive officers and other whole-time directors in private banks is 70 years, in line with the Companies Act, 2013.

However, banks are free to prescribe a lower retirement age for their chief executive officers and whole-time directors, the RBI said.

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First Published: Sep 09 2014 | 3:15 PM IST

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