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b. the composition of the Review Committee of Wilful Defaulter and the details of meetings attended by its members are given below:
STATUTORY REPORTS
4. Ensuring that the IT organizational structure complements the business model and its direction;
5. Ascertaining that management has implemented processes and practices that ensure that the IT delivers value to the business;
6. Ensuring IT investments represent a balance of risks and benefits and that budgets are acceptable;
7. Monitoring the method that management uses to determine the IT resources needed to achieve strategic goals and provide high-level direction for sourcing and use of IT resources;
8. ensuring proper balance of It investments for sustaining bank’s growth;
9. Becoming aware about exposure towards IT risks and controls and evaluating effectiveness of management’s monitoring of IT risks;
10. Assessing Senior Management’s performance in implementing IT strategies;
11. Issuing high-level policy guidance (e.g. related to risk, funding, or sourcing tasks);
12. Confirming whether It or business architecture is to be designed, so as to derive the maximum business value from IT;
13. Overseeing the aggregate funding of IT at a bank- level, and ascertaining if the management has resources to ensure the proper management of IT risks; and
14. Reviewing IT performance measurement and contribution of IT to businesses (i.e., delivering the promised value).
11. reviewcOmmitteeOfwilful DefaulterS
a. The Bank has constituted a Review Committee of Wilful Defaulters in accordance with RBI guidelines to review decisions taken by the Identification Committee (for identification of Wilful defaulters / borrowers).
mr. nitin chugh
Chairman of the Review Committee of Wilful Defaulters
Brief profile: Nitin Chugh is the Managing Director and Ceo of the Bank. He holds a bachelor’s degree in technology (electrical engineering) from Kurukshetra university and a professional diploma in marketing management from All India Management Association. He has previously worked with HDFC Bank limited, Standard Chartered Bank, HCl, Hewlett packard limited and Modi Xerox Limited.
Nature of Expertise: Banking
Sr. no.
Name of director
Designation/Category
Number of meetings during fy 2019-20
% of attendance
held during their tenure
attended
1. Mr. nitin Chugh*
2. Mr. Samit Kumar Ghosh**
3. Mr. Biswamohan Mahapatra
4. Mr. luis Miranda***
Chairman-Managing Director and CEO
Ex-Chairman- Ex-Managing Director and CEO
Member - Independent Director
Ex-Member - Independent Director
0 0 -
1 1 100
1 1 100
1 1 100
* Joined the Committee w.e.f December 01, 2019 and no meeting was held during his tenure ** Moved out from the Committee w.e.f December 01, 2019 due to retirement
*** Moved out from the Committee w.e.f March 22, 2020 due to resignation
c. the Review Committee of Wilful Defaulters met once during FY 2019-20 on July 29, 2019. All the members of the committee were present in the meeting.
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