Tuesday, Nov 29, 2022
Business / Saturday, Nov 19, 2022

Government Increased Maximum Tenure of PSU Bank CEOs to Ten Years

The federal government has increased the maximum tenure of PSU bank whole-time directors, including managing directors, to ten years. The measure is intended to assist these lenders in retaining top employees. Many full-time directors of PSU banks joined the board at an early age. They would gain from the amendment. PSU banks reported strong second-quarter performance, with asset quality improving and lending demand increasing by 17%.

Source: The Hindu Business Line

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