Friday, 24 March, 2023

Government Increased Maximum Tenure of PSU Bank CEOs to Ten Years

<p>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%.</p>