๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      What is the maximum continuous tenure a director of a

      banking company (other than the chairman or whole-time director) can hold office, as per the Banking Regulation Act?
      A Six years Correct Answer Incorrect Answer
      B Seven years Correct Answer Incorrect Answer
      C Eight years Correct Answer Incorrect Answer
      D Nine years Correct Answer Incorrect Answer
      E Ten years Correct Answer Incorrect Answer

      Solution

      Section 10A. Board of directors to include persons with professional or other experience:(2) be proprietors of any trading, commercial or industrial concern, not being a small-scale industrial concern. 1 [(2A) Notwithstanding anything to the contrary contained in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in forceโ€” (i) no director of a banking company, other than its chairman or whole-time director, by whatever name called, shall hold office continuously for a period exceeding eight years.

      Practice Next
      ask-question