April 23, 2020

Age Limit for Managing Directors and Chief Executive Officers in Private Sector Banks

Under Companies Act 2013 the RBI has decided to fix the minimum Age to become Manager is 21 yrear. Maximum Age for Managing Directors and chief Executive Officers in private sector bank is 70 year. The PJ Nayak committee recommended a maximum age 65 for private sector banks CEOs. This issue emerged  when the board of Indusland Bank specified the extension of tenure of Romeah Sobti by another 3 years extension the move triggered speculation that the RBI wanted to fix the retirement age at 65 year.

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