RBI/2004-2005/303
DBOD.No.BC. 60 /08.139.001/2004-2005
December 16, 2004
The Chairmen and Managing Directors/ Chief Executive Officers
of banks in private sector
Dear Sir,
‘Fit and proper’ criteria for directors of banks
Please refer to our circular RBI/2004/268
dated June 25, 2004 on the above subject forwarding therewith RBI directive
DBOD.No.BC.104/08.139.001/2003-04 dated June 25, 2004.
2. In partial modification of the instructions contained in
para 1(iv) of the directive, we advise that due diligence of directors
other than the members of the Nomination Committee may be carried out
by the Nomination Committee. The due diligence in respect of the members of
the Nomination Committee may be carried out by the Board itself and the members
of the Nomination Committee (being interested parties) may not be involved in
this.
3. Please acknowledge receipt.
Yours faithfully,
Sd/-
(C.R.Muralidharan)
Chief General Manager-in-Charge
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