..........Specifically, Sandhu pointed out that improving the independence of the independent, the non-official directors on bank boards is something that is starting right away. The government is mulling on it. They are also thinking of giving the chairman of the bank a five-year tenure and splitting the position of chairman and managing director—again a Nayak committee recommendation. All of this indicating that the government is thinking very seriously about autonomy for public sector banks and for improving the quality of bank boards. This helped the PSU bank index outperform the general market today............
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