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    Question

    Consider the following statements with regard to the

    Audit Committee for Banks- i.         The ACB shall be constituted with non-executive directors (NEDs) only. ii.       At least two-thirds of the members attending the meeting of the ACB shall be independent directors iii.      The Chair of the Board shall be a member of the ACB Which of the above statements are true?
    A i & ii Correct Answer Incorrect Answer
    B ii & iii Correct Answer Incorrect Answer
    C i & iii Correct Answer Incorrect Answer
    D All Correct Answer Incorrect Answer

    Solution

    Ref. RBI/2021-22/24 DOR.GOV.REC.8/29.67.001/2021-22, April 26, 2021

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