Tenure extension of PSB MDs & CEOs be subject to performance not age: BBB

While noting that in private sector banks, a Whole-time Director can continue till the age of 70, the Bank Board Bureau has therefore recommended that the tenure of an MD & CEO of a Public Sector Bank (PSB) be fixed for at least a three year period without being constrained by the extant age of superannuation but subject to performance evaluation for continuation, extension or re-appointment.