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

Adds banks are free to set lower retirement age

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.