Question

Section 35B(1)(b) of the Banking Regulation Act, 1949 requires the previous approval of the Reserve Bank for certain appointments. Which of the following appointments in a banking company shall have no effect unless made with the previous approval of the Reserve Bank?

A Appointment of a branch manager by the managing director
B Appointment of an internal auditor by the audit committee
C Appointment of a statutory auditor by the shareholders at the AGM
D Appointment of a non-executive independent director by minority shareholders
E Appointment or re-appointment or termination of appointment of a chairman, managing or whole-time director, manager or chief executive officer
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