RBI-Report of the Committee to Review Governance of Boards of Banks in India released
May, 14th 2014
The Reserve Bank of India has today placed on its website, the Report of the Committee to Review Governance of Boards of Banks in India (Chairman: Dr. P.J.Nayak). The comments, if any, on the recommendations of the Report, may be emailed or sent by post to the Chief General Manager, Reserve Bank of India, Department of Banking Operations and Development, 12th Floor, Central Office Building, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001 on or before June 12, 2014.
It may be recalled that the Reserve Bank of India had constituted an Expert Committee to Review Governance of Boards of Banks in India (Press Release dated January 20, 2014). The Expert Committee was requested to examine, inter alia, the working of banks’ boards including whether adequate time is devoted to issues of strategy, growth, governance and risk management; to review central bank regulatory guidelines on bank ownership, ownership concentration and representation in the board; to analyse the representation on banks’ boards to see whether the boards have the appropriate mix of capabilities and the necessary independence to govern the institution, and to investigate possible conflicts of interest in board representation, including among owner representatives and regulators.