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RBI tightens norms for re-appointment of directors on UCB boards
The Reserve Bank of India has introduced new rules for Urban Co-operative Banks. Directors can now serve for a maximum of ten years. Following this, a mandatory three-year cooling-off period is required before re-appointment. This measure aims to prevent directors from circumventing tenure limits. The new directions are effective immediately, ensuring better governance in these financial institutions.
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thehindubusinessline.com
RBI mandates 3-year cooling-off period for co-operative bank directors
RBI has tightened governance norms for co-operative banks by introducing a mandatory 3-year cooling-off period for directors after a 10-year tenure.
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economictimes.indiatimes.com
RBI tightens norms for re-appointment of directors on UCB boards
The Reserve Bank of India has introduced new rules for Urban Co-operative Banks. Directors can now serve for a maximum of ten years. Following this, a mandatory three-year…
