RBI Updates Directions for Central Counterparties (CCPS) – Enables CCPS To Appoint Independent Directors
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- Last Updated on 30 October, 2024
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Circular No. RBI/2024-2025/85 DPSS.CO.RLVPD.No.S789/02.07.038/2024-25, Dated 28.10.2024
The RBI has issued updated ‘Directions for Central Counterparties (CCPs)’. Under these guidelines, an authorized CCP is now permitted to appoint an Independent Director in accordance with Section 150 of the Companies Act, 2013. Further, the responsibilities of the Nomination and Remuneration Committee (NRC) have been outlined, requiring the NRC to identify individuals qualified to serve as Directors or be appointed to senior management roles, following the specified criteria.
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