Let me quote briefly from the document. It says, “to achieve appropriate checks and balances, an increasing number of banks require the chair of the board to be a non-executive, except where otherwise required by law.
Where a bank does not have this separation and particularly where the roles of the chair of the board and Chief Executive Officer (CEO) are vested in the same person, it is important for the bank to have measures in place to minimize the impact on the bank’s checks and balances of such a situation (such as, for example, by having a lead board member, senior independent board member or a similar position).” Given our own positive experience as well as the global endorsement for this position, the question is whether we should extend the principle of separation of the posts of chairman of the board and CEO to public sector banks as well.