What is the primary role of the 'Nomination and

Remuneration Committee' (NRC)?

A To handle customer complaints. Correct Answer Incorrect Answer

B To identify persons qualified to become directors and recommend their compensation. Correct Answer Incorrect Answer

C To nominate the bank for national awards. Correct Answer Incorrect Answer

D To oversee the CSR activities. Correct Answer Incorrect Answer

E To manage the bank's payroll software. Correct Answer Incorrect Answer

Solution

The NRC ensures a transparent process for board appointments and fair executive pay. The primary role of the Nomination and Remuneration Committee (NRC) is to assist the board of directors in overseeing the appointment, evaluation, and compensation of a company's leadership. It acts as a corporate governance watchdog to ensure the company attracts and retains highly qualified directors, executives, and key personnel.

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Relevant for Exams:

IIFCL Grade A/B

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