Bank Boards

The Reserve Bank on Friday raised the ceiling on remuneration of non-executive directors in private banks to Rs 30 lakh per annum from Rs 20 lakh. In April 2021, the central bank had fixed the ceiling of remuneration at Rs 20 lakh per annum for NEDs (non-executive directors). "Considering the crucial role of NEDs in efficient functioning of bank boards and its various committees and in order to further enable the banks to sufficiently attract qualified competent individuals on their boards, it has been decided to revise the aforementioned ceiling to Rs 30 lakh per annum," it said in a statement. RBI further said the banks are required to have suitable criteria for granting fixed remuneration to its NEDs, with the approval of their boards before any review of the extant remuneration. "The board of the bank may fix a lower amount within the ceiling limit of Rs 30 lakh per annum depending upon the size of the bank, experience of the NED and other relevant factors," it said. The ...

The hunt for independent directors may become more difficult as Mint Road turns the knob on bank boards, reports Raghu Mohan

The Governor of the RBI has for the first time provided a peek into the power structures within bank boards

Gaps in governance of certain banks has potential to cause some degree of volatility, he says

The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. "Banks are independent bodies. They have boards which can take a decision to waive off the penalty," Karad told reporters here. The minister was responding to a question if the Centre would consider directing banks not to charge any penalty from the accounts where the balance falls below the prescribed minimum levels. Karad was on a two-day visit to Jammu and Kashmir to review the implementation of various financial schemes in the Union Territory. The minister said the banks in Jammu and Kashmir had done a good job over the years and directed them to improve their performance on those parameters where they are lagging behind the national average. "I have told the banks in Jammu and Kashmir to hold Saturday camps to bring the percentage of Jan Dhan Yojana accounts closer to the national

Jebaraj handles verticals for large and mid-sized corporates, trade finance and NPA management and he has been a member of internal committees for more than a decade, said IDBI Bank

Lender was aiming to raise Rs 127 crore for growth plans

Anand joined Axis AMC in 2009 and was its founding MD and CEO. He subsequently went on to become the President (Retail Banking) of Axis Bank in 2013 and then joined the bank's board in 2016

The former RBI governor said bank boards needed more independence