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Chartered Accountants

a.    Persons of eminence with special academic training or practical experience  in the  fields   of  agriculture, rural  economy  banking, cooperation,  economics, business management, human resources, finance, corporate law, Risk Management, industry and IT will ordinarily be considered. 20 years of industry experience  at  a  senior  position, established expertise in respective areas (successfully led  a  reputed  organization, brought turnaround in  a  failing organization) would be preferred.

b.    Retired senior Government officials with total experience of 20 years and minimum 10 years of experience at Joint secretary and above level. Retired CMDs/EDs of Public Sector Banks after one year of retirement. The ex­ CMDs/EDs will not be considered for appointment as NoD on the Board of the PSB from which they have retired. Serving CMDs/EDs of a PSB will not be considered for appointment as NoD on the Board of any other PSB.

c.    Academicians/Directors of premier Management/Banking Institutes and Professors having more than 20 years experience.

d.    Chartered Accountants with 20 years experience (excluding audit experience) would also be preferred.

(B) Criteria of Educational Qualification
An NoD should at least be a graduate in any stream preferably with specialization in Business Management , Risk Management , Finance, Human Resources and IT.

(C) Criteria of age
The age of the Director, on the date of recommendation by Search Committee should not be more than 67 years.

(D) Criteria of Work Experience
Professionals/academicians should ordinarily have 20 years of work experience in their particular field.

(E) Criteria of Disqualification

a   A Director already on a Bank/Financial lnstitution (FIs)/RBI/Insurance Company, under any category, may not be considered for nomination as NoD in any other Bank/FIIRBI/Insurance Company.

b   Persons connected with hire purchase, financing investment , leasing and other para-banking activities, MPs MLAs, MLCs and Stock Brokers will not be appointed as non-official directors on the boards of Banks/FIs/RBI/Insurance Companies. Investors in a hire purchase,financing investment , leasing and other para-banking activities would not be disqualified for appointment as NOD, if they are not having any managerial control in such companies.

c   No person may be re-nominated as an NOD on the Board of a Bank/FI/RBI/Insurance Company on which he/she has served as Director in the past under any category for two terms or six years whichever is longer.

(F)  Criteria of Tenure
An NoD would not be considered for nomination as a Director on the Board of a Bank/FI/RBI/Insurance Company if such Director has already been a NoD/Shareholder Director on the board of any other Bank/FI/RBI/Insurance company for six years, whether continuously or intermittently

Related Update:
Amended procedure for NoD Appointment Click Here >>

Government Criteria-Appointment Consideration of Non-Official Director (NOD) in Public Sector Banks, Insurance Companies, RBI and Financial Institutions |02-04-2015|