The Reserve Bank of India (RBI) has revised upwards the ceiling in respect of remuneration of Non-Executive Directors (NEDs), other than the Chair of the Board, to ₹30 lakh per annum from ₹20 lakh.

Banking & Finance

The Reserve Bank of India (RBI) has revised upwards the ceiling in respect of remuneration of Non-Executive Directors (NEDs), other than the Chair of the Board, to ₹30 lakh per annum from ₹20 lakh. The board of the bank may fix a lower amount within the ceiling limit of Rs 30 lakh per annum depending upon the size of the bank, experience of the NED and other relevant factors. The instructions on review of fixed remuneration granted to NEDs would be applicable to all the private sector banks including small finance banks (SFBs) and payment banks (PBs) as also the wholly owned subsidiaries of foreign banks. The instructions come into force with immediate effect.


     

     

     

 

     


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