Bank MDs require less information for foreign travel
They do not have to provide the names of their family members
Managing directors (MD) of banks will have to provide the central bank with nine types of information instead of 15 before going abroad with their families from now onwards.
They do not have to provide the names of their fathers, mothers, husbands/wives or sources of travel expenses.
Earlier, an MD had to provide information of foreign travels of the last two years. From now on, information of only the last foreign trip has to be given, as per the changes introduced by the central bank on Monday.
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The information that has to be provided is the name of the bank and the managing director, the numbers of the national identity card and passport, the purpose of travel, proposed time of travel, date of approval of the board of directors regarding the travel, address of where to stay abroad and the last overseas travel information.
The central bank issued a circular on 23 March last year regarding travelling abroad of managing directors. The directives included the details of the person who will perform the duties in the absence of the managing director while travelling.
