Bankers express concern over RBI governance paper, feel it could have adverse effects.

MUMBAI: Bankers have written to the Reserve Bank of India (RBI) seeking a review of its discussion paper on governance that aims to curtail the power of CEOs and calls for heads of risk, compliance and audit to report to the board, said people with knowledge of the matter.

Private sector banks have expressed concerns about curbs on the tenure of CEOs.

State-run lenders say the proposal wrongly seeks to empower non-executive board members, a move that could have adverse consequences as government nominees may not possess skills needed to run specialised bank functions.

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