Jan 23, 2024

Appointment of Whole Time Director

RBI by way of a Circular issued on October 25, 2023 instructed all private sector banks and wholly-owned subsidiaries of foreign banks (excluding payment banks and local area banks) to ensure, within the prescribed timeframe, the presence of at least two whole time directors (‘WTDs’), including the MD & CEO, on their boards to establish an effective senior management team in the banks to navigate ongoing and emerging challenges in handling both current and future difficulties and to aid in succession planning. The RBI provided flexibility to the boards of the banks in determining the number of WTDs after considering the number of operations, business complexity, and other relevant aspects.




These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.