The Reserve Bank of India (RBI) has asked associate banking entities of State Bank of India to set up a panel of directors to assess "fit and proper" status of existing elected directors and proposed candidates to work on the board. | |
| The three-member panel should determine "fit and proper" status on criteria such as educational qualifications, experience and field of expertise and track record and integrity. |
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| This is just an illustrative list of heads to judge directors, RBI said in communication to chiefs of SBI's associate banks. |
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| The committee should see whether the non-adherence to any criteria would hamper the existing elected director or the proposed candidate from discharging the duties as a director. |
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| Further, the candidate who was an insolvent or was in default would be unfit and improper to work as director of the bank, it added. |
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