“There is an inclination to write a new law or regulation, whenever some transgression takes place. You don't amend the Indian Penal Code every time a murder is committed,” says M Damodaran, chairman-Excellence Enablers.
It’s a reference to the Reserve Bank of India’s (RBI’s) discussion paper on governance in banks which has raised hackles all around. Chief executive officers (CEOs) are not to be on the nomination and remuneration committee (NRC), audit committee (AC), and the risk management committee (RMC); it is to be made of only non-executive ...
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