RBI – Corporate Governance

A Discussion Paper on ‘Governance in Commercial Banks in India’ was issued by the Reserve Bank on June 11, 2020, to review the framework for governance in commercial banks. Based on the feedback received, a comprehensive review of the framework has been done by RBI, and a Master Direction on Governance will be issued in due course by RBI. In order to address a few operative aspects received through such feedback, it has been decided by RBI to issue instructions with regard to the Chair and meetings of the board, the composition of certain committees of the board, age, tenure and remuneration of directors, and appointment of the whole-time directors