RBI panel for professionals on boards

A RBI constituted committee has recommended that the composition of bank boards should be commensurate with the business needs of the bank in the context of banking becoming more complex and competitive. There is an urgent need for making bank boards more contemporarily professional by inducting technical and specially qualified personnel, the consultative group of directors of banks and FIs said in its report.

The group, chaired by A. S Ganguly to review the supervisory role of the boards, submitted its report to RBI in April and based on these recommendations the apex bank has advised all scheduled banks to place the recommendations before their respective boards.