A Comparative Study on Corporate Governance Practices across the Ownership Pattern of Banks Operating in India

Abstract

Here, in this paper, an attempt has been made to examine the extent of compliance of the Corporate Governance Codes by selected major banks operating in India across the ownership status like public, private and foreign. The study indicates that there exists significant difference in corporate governance disclosure practices among these banks. The overall governance scenario in these surveyed banks also depicts a mixed portrait with respect to some significant parameters like independence in boards, formation of different board committees, separation of role of chairman and managing director etc. The appropriate regulatory authority and the apex bank should consider various measures to ensure independence of activities, transparency of operations for protecting overall stakeholders' interests. The issue of appointment of nominee directors, remuneration to the directors, formation of different board committees, separation of dual role of CEO and Chairman should be adhered to at earliest.