Govt raises maximum tenure of PSU banks' CEO to 10 years

The amendment would be called Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2022, it added. The central government has the right to terminate the term of office of a whole-time director, including the managing director, any time before the expiry of the term specified, by giving him a notice of not less than three months, in writing or three months' salary and allowances in lieu of notice.

from Banking/Finance-Industry-Economic Times https://ift.tt/Jj6yKiV