Guidelines on Fit and Proper Criteria for Chief Executive Officers (CEOs) of Multi-State Urban Co-operative Banks
March, 01st 2014
RBI/2013-14/506 UBD CO BPD (PCB) Cir. No. 49/12.05.001/2013-14
February 28, 2014
All Multi-State Urban Co-operative Banks
Madam / Dear Sir,
Guidelines on ‘Fit and Proper Criteria’ for Chief Executive Officers (CEOs) of Multi-State Urban Co-operative Banks
Please refer to the circular No R-11017/17/2011-L&M dated August 16, 2011 issued by Government of India, Ministry of Agriculture, Department of Agriculture and Co-operation on the captioned subject.(copy enclosed). It would be observed therefrom that the Government of India has prescribed the minimum eligibility criteria for appointment to the post of Chief Executive Officer of Multi-State Urban Co-operative Banks.
2. It has been brought to our notice that some of the UCBs registered under the Multi-State Co-operative Societies Act either have not laid down the ‘fit and proper criteria’ for appointment of Chief Executive Officer in their bank or the same is not being adhered to as per the above guidelines.
3. As the ‘fit and proper criteria’ have been prescribed pursuant to the recommendations of TAFCUB, you are advised to ensure that the guidelines for appointment of Chief Executive Officer of the bank are followed in letter and spirit.