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STATUTORY REPORTS
of its committees and individual directors as per the criteria laid down by the nomination Committee, which includes the following:
I. The Board: Composition, structure, meetings, functions, management and professional development, ethics and compliance among others.
II. The Committees: Mandate & Composition, effectiveness, structure, meetings, independence of the committee, contribution in decision making of the Board, among others.
III. Individual directors (including Chairperson, Independent Directors and Non-Independent Directors): Leadership, Commitment, Contribution, experience, expertise, Independence, Integrity, Attendance, Responsibility, Flow of Information among others.
IV. Disclosure on Board evaluation pursuant to SeBI circular no. eBI/Ho/CFD/CMD/CIR/p/ 2018/79 dated May 10, 2018:
Particulars
Key Observations
Observation of the Board evaluation carried out for FY 2019-20
the directors had requisite competency, qualification, commitment and integrity.
the directors have long term vision, industry knowledge and expertise and are wholly committed and provided ethical leadership to the Bank.
the directors have the ability to function as a team. Further, the directors were regular in attending meetings and contributed effectively during the discussions.
there are no apparent conflict of interest and they expressed their opinion freely.
The Listing Committee of the Board in coordination with the Board managed to complete a historic listing of the Bank within the regulatory timelines prescribed by RBI.
The Nomination and Remuneration Committee and the Board did an excellent job in planning the succession for the position of the Managing Director and CEO.
Mr. nitin Chugh was identified who took over as the Managing Director and CEO of the Bank as successor to Mr. Samit Kumar Ghosh, the then Managing Director and CEO
Based on the performance of independent directors, it was recommended for their continuation as independent directors for FY 2020-21.
Previous year’s observations:
Explore having an additional IT expert either as a consultant on IT related matters or as Board Member with IT domain expertise.
action taken:
The Bank had appointed Mr. Sachin Bansal as a Director of the Bank w.e.f June 01, 2019. He has invaluable expertise and knowledge in Information technology and other It domain.
the Bank has also appointed Mr. Dheemant thacker as Head of Digital Banking of the Bank. He has previously worked with Aditya Birla Capital, HDFC Bank and Bandhan Bank.
no specific actions were suggested during the evaluation process.
previous year’s observations and action taken
proposed actions based on current year observation
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