New NBFI directors must have bachelor's degree: Cenbank
The Central Bank's Department of Financial Institutions and Markets issued a circular today (16 April), stating the minimum educational qualifications of NBFI directors
From now on, to join the post of director of Non-Bank Financial Institutions (NBFIs), the candidate must have a bachelor's degree.
The Central Bank's Department of Financial Institutions and Markets issued a circular today (16 April), stating the minimum educational qualifications of NBFI directors.
Speaking to The Business Standard on the matter, a senior official of the central bank, on condition of anonymity, said, "From now on, it has been made mandatory to complete graduation in the appointment of directors, alternate directors and nominated or representative directors of finance companies."
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Earlier, the rules of having experience and shareholding percentage were required in the appointment of directors, which will remain the same.
"However, the previous instructions did not mention the educational qualification for appointment to all types of director posts. The new instructions have prescribed educational qualifications," the official said.
