RBI doesn’t relent, chiefs of private banks need to retire at 70

The Reserve Bank of India has refused to relent on its guidelines requiring chief executives of private banks to mandatorily retire at the age of 70, setting the stage for Aditya Puri to step down as HDFC Bank managing director and CEO next October, while Romesh Sobti will retire as IndusInd Bank chief at the end of the financial year.

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