Section 10B of BRA : Section 10B: Banking Company To Be Managed By Whole Time Chairman
BRA
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Explanation using Example
Imagine a scenario where XYZ Bank, a well-established bank, needs to appoint a new chairman for its Board of directors. According to Section 10B of The Banking Regulation Act, 1949, the bank is required to have one of its directors serve as the chairman. XYZ Bank decides to appoint Mr. John, a current director, as the full-time chairman. This means Mr. John will now manage the entire affairs of the bank and will be in the full-time employment...
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