Section 6 of DICGC Act, 1961 : Section 6: Board Of Directors
DICGC Act, 1961
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Explanation using Example
Imagine a scenario where the Deposit Insurance and Credit Guarantee Corporation (DICGC) is in the process of forming a new Board of Directors. The Reserve Bank of India (RBI) Governor nominates a Deputy Governor to serve as the Chairman of the Board. Additionally, the RBI nominates another one of its officers to the Board.
The Central Government also steps in and nominates an officer to the Board. Furthermore, it consults with the RBI to nominate five directors with expertise in fields like commercial banking and insurance,...
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