As per the latest instruction issued by RBI what is the cap imposed on the tenure that an incumbent ...........

Current GK ( Master) Banking Awareness

As per the latest instruction issued by RBI, what is the cap imposed on the tenure that an incumbent MD/CEO or Whole-time Director of a private sector bank can have ?

5 years

10 years

15 years

20 years

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Explanation:

The Reserve Bank of India (RBI) has capped the tenure of Managing Director and Chief Executive (MD & CEO) of commercial banks to 15 years. The same limit will also be applicable to whole time directors (WTD).
This means that the same incumbent cannot hold the post for more than 15 years.
The revised instructions will be applicable to all the Private Sector Banks including Small Finance Banks (SFBs) and wholly owned subsidiaries of Foreign Banks.