RBI has put restriction on he age of the MD & CEO of private Banks which is in the same line as applicable to companies under the Companies Act 2013
it has been decided that the upper age limit for MD & CEO and other WTDs of banks in the private sector should be 70 years, i.e. beyond which nobody should continue in the post.
Within the overall limit of 70 years, individual bank’s Boards are free to prescribe a lower retirement age for the WTDs, including the MD & CEO, as an internal policy.
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CIR217NT092014.pdf
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