RBI favours splitting CMD posts in PSU banks

The Reserve Bank of India (RBI) governor D Subbarao on Tuesday batted for splitting of the posts of chairman and managing director in state-run banks, saying the experience of such a split in the private sector has been satisfactory. HT reports.

The Reserve Bank of India (RBI) governor D Subbarao on Tuesday batted for splitting of the posts of chairman and managing director in state-run banks, saying the experience of such a split in the private sector has been satisfactory.

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On giving banking licences to large corporates, he said there is need to plug gaps in existing rules.

He said bifurcation will bring more focus and vision, as well as necessary thrust to the functioning of the top management of the bank.