..............Earlier, bifurcation of the CMD's post was also suggested by Reserve Bank to the Finance Ministry. RBI had accepted that CMDs of public sector banks enjoy absolute power along with boards. The central bank had also said CMDs often dominate the board during their tenure and therefore it also recommended that the post of CMDs be separated to empower the board. In PSBs, the top executive is designated as CMD, with the exception of the largest lender State Bank of India, where the top position is commanded by the Chairman and there are four Managing Directors with clearly defined executive roles under her/him.............
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