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Upper age limit set for MDs and CEOs of private banks

The upper age limit for managing directors (MDs) and chief executive officers (CEOs) and the other whole – time director of banks in the private sector has been fixed at 70 years.

The RBI said, “Beyond this age (70 yeas), nobody should continue in the post”.

RBI further noted that, “Within the overall limit of 70 years, individual bank boards are free to prescribe a lower retirement age for the whole – time directors, including the managing directors and chief executive officers, as an internal policy.”

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