India: the governance of bank boards - review committee report published

The Reserve Bank of India has published, for public comment, the report of the committee formed to consider the governance of bank boards: see here. Wide-ranging recommendations are made in respect of private and public sector banks, some of which are reflected in new legislation proposed by the Committee (including a Banking Sector Governance Act, a draft of which is included in the report). In particular, a uniform governance framework is proposed for the entire banking sector.