Section 10A of BRA : Section 10A: Board Of Directors To Include Persons With Professional Or Other Experience
BRA
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Explanation using Example
Imagine a medium-sized bank called "CityBank" which has been operating for several years. The bank is reviewing its board of directors to ensure compliance with Section 10A of the Banking Regulation Act, 1949. According to this law, CityBank needs to ensure that:
- At least 51% of its board members have special knowledge or practical experience in areas such as banking, law, finance, agriculture, or small-scale industry.
- Among these knowledgeable members, at least two should have expertise specifically in agriculture, rural economy, co-operation, or small-scale industry.
- None of th...
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