Banks to inform RBI about re-appointment of MD, CEOs six months in advance

The private sector and the foreign banks have been asked by the Reserve Bank of India to inform it of the re-appointment of managing director and chief executives 6 months in advance, as against 4 months earlier.

In case of fresh appointments, however, the two names have to be submitted at least 4 months in advance.

The banks can now mention two names for appointment as MD and CEOs, from three earlier.