Question
The "Fit and Proper" criteria assessment does NOT include:
Solution
While integrity and expertise are checked, personal net worth is not a standard 'Fit and Proper' criterion for directorship. As per RBI guidelines, the "Fit and Proper" criteria assessment for directors and key personnel includes a mandatory evaluation of educational qualifications, experience, track record, and integrity. This continuous assessment involves a boardapproved policy, a formal declaration/undertaking by the appointee and a signed Deed of Covenant to ensure sound corporate governance.
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