RBI/2016-17/152
DBR.Appt.BC.No.39/29.39.001/2016-17

November 24, 2016

All Commercial Banks excluding RRBs

Dear Sir / Madam,

Special knowledge or practical experience useful to banking companies

In the backdrop of innovations in banking and technology, it is felt that the domain knowledge and experience enumerated under various statutory provisions for the directors on the boards of commercial banks (excluding RRBs) need to be augmented by knowledge and experience in other specialized areas, to guide the banks in managing their diversified business portfolios and risks. It has, therefore, been decided to broaden the fields of specialization to include (i) Information Technology (ii) Payment & Settlement Systems (iii) Human Resources (iv) Risk Management and (v) Business Management, for persons who could be considered for appointment of director in the banks.

2. A copy of the relative notification DBR.Appt.BC.No.38/29.39.001/2016-17 dated November 24, 2016, is enclosed.

Yours faithfully,

(Ajay Kumar Choudhary)
Chief General Manager

Encl: Notification

DBR.Appt.BC.No.38/29.39.001/2016-17

November 24, 2016

Special knowledge or practical experience useful to banking companies

In exercise of the powers conferred by Section 10A(2)(a)(ix) of the Banking Regulation Act, 1949,Section 19A(1)(a)(viii) of State Bank of India Act, 1955, Section 25A(1)(a) (viii) of State Bank of India (Subsidiary Banks) Act, 1959, and Section 9(3A)(A)(viii) of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, Reserve Bank of India hereby notifies that special knowledge or practical experience in matters or areas relating to (i) Information Technology (ii) Payment & Settlement Systems (iii) Human Resources (iv) Risk Management and (v) Business Management would be useful to a banking company, State Bank of India, subsidiary bank and a corresponding new bank, as the case may be.

(Sudarshan Sen)
Executive Director