Mumbai: RBI has increased fee cap paid to Non-Executive Director The existing limit of banks has been increased from Rs 20 lakh to Rs 30 lakh per annum. The amendment comes two years after the RBI issued new guidelines for directors corporate governanceWhere it limited the remuneration for non-executive directors, except the Chairman of the Board.
The RBI said it has revised the limit in recognition of the important role of non-executive directors in ensuring the effective functioning of bank boards and their various committees. The purpose of this adjustment is to enable banks to attract qualified and competent individuals to serve effectively on their boards.