Select Page

MUMBAI: The RBI has increased the ceiling on fees paid to non-executive directors of banks to Rs 30 lakh per year from the existing level of Rs 20 lakh. The revision comes two years after RBI came out with new guidelines for directors as a part of corporate governance, where it capped the remuneration for non-executive directors, excluding the chair of the board.

RBI said that it revised the ceiling in recognition of the vital role of non-executive directors in ensuring the effective operation of bank boards and their various committees. This adjustment aims to enable banks to attract qualified and competent individuals to serve on their boards effectively.

  • Published On Feb 10, 2024 at 07:54 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBFSI App

  • Get Realtime updates
  • Save your favourite articles

icon g play

icon app store

Scan to download App
bfsi barcode

Share it on social networks