RBI caps bank CEO tenure at 15 years, policy to be effective Oct 1

For promoter CEO the limit is 12 years, says RBI as part of its latest guidelines

Reserve Bank of India has capped the tenure of managing director and chief executive ( MD&CEO) of commercial banks for the same incumbent to 15 years. The same limit is applicable to whole time directors (WTD), said RBI on Monday.

The MD&CEO or WTD, who is also a promoter/ major shareholder, cannot hold these posts for more than 12 years, according to the latest RBI notification. 
 

In extraordinary circumstances, RBI, at its discretion, may allow MD&CEO or WTDs, who are also promoter/major shareholder, to continue up to 15 years. While considering such cases, RBI will factor in level of progress