RBI’s new governance norms stress stronger boards—but many PSBs lack key members
Several banks operate without non-executive chairpersons or even full-time CEOs
Many PSBs have fewer directors than required, limiting oversight and decision-making capacity
Shortage of independent directors and chartered accountants weakens audit and risk functions
Principle-based governance norms may falter without fully staffed and capable boards
Timely, robust appointments are essential to ensure governance, performance, and stability