Page 204 - Demo

This Committee will be functional during the current economic scenario and will be in operation till the time situation becomes normal. The Committee is authorised to direct, suggest, guide and advise appropriate measures to the Bank on various matters related to finance, business, risk, compliance, credit and such other regulatory or other matters that may arise as and may be necessary for the Bank.
b. the composition of Business Continuity Monitoring Committee is given below:
Sr. no.
Name of director
Designation/Category
1. Mr. Biswamohan Mahapatra
2. Mr. Nitin Chugh
3. Mr. Mahadev lakshminarayanan
4. Ms. Vandana Viswanathan
5. Mr. Jayanta Kumar Basu
6. Ms. Mona Kachhwaha
Chairman-Independent Director
Member –Managing Director and CEO
Member - Independent Director
Member - Independent Director
Member – non-executive, Non-Independent Director
Member – non-executive, Non-Independent Director
mr. BiSwamOhan mahaPatra
Chairman of the Business Continuity Monitoring Committee
Brief profile: Biswamohan Mahapatra is the Part-time Chairman and an Independent Director of the Bank. He holds a Master of Arts degree from Jawaharlal nehru university, new Delhi, Master of Science in Management Degree from Arthur D. Little Management Education Institute, Cambridge, United States of America and Master of Business Administration from Delhi university. He retired as an executive Director of RBI in August, 2014.
Nature of Expertise: Banking and Finance
18. remuneratiOn Of DirectOrS
c. no meeting of the Business Continuity Monitoring Committee was held during FY 2019-20.
17. inDePenDent DirectOrS
a. The independent directors are given a formal letter of appointment containing the terms of appointment, roles, duties and code of conduct, among other items. As required under Regulation 46 of the SEBI Listing Regulations, the terms and conditions of appointment of Independent Directors are available on the website of the Bank at https:// www.ujjivansfb.in/corporate-governance-policies.
b. Schedule IV of the Act and Regulation 25(3) of the SEBI Listing Regulations mandate that the independent directors of the Bank shall hold at least one meeting in a year, without the attendance of Non-Independent Directors and members of Management. Accordingly, the independent directors, at their meeting held on March 23, 2020, evaluated the performance of the Chairman, Non- Independent Directors and the Board as a whole. Independent Directors also reviewed the quality, quantity and timeliness of flow of information between the Management and Board.
a. Disclosures with respect to the remuneration of Managing Director and CEO of the Bank pursuant to SEBI Listing Regulations.
Particulars
Mr. Samit Kumar Ghosh (Ex-Managing Director and CEO) * Amount (`)
mr. nitin chugh (Current-Managing Director and CEO) ** Amount (`)
Salary (gross salary excluding bonus) 33,463,200
Benefits* 10,423
Bonuses@ 600,000
8,978,400 18,825
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3,798,697 ***
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***
Stock Options (Nos.)
Pension
Details of fixed component and performance linked incentives, along with the performance criteria.
Service Contracts
Notice Period
Severance Fees
Stock option details, if any and whether issued at a discount as well as the period over which accrued and over which exercisable.
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*April 01, 2019 till november 30, 2019
**As president of the Bank from August 17, 2019 to november 30, 2019 and as Managing Director and Ceo from December 01, 2019 ***Sign-on grant was given at an exercise price of `35 per stock option basis RBI approval; vesting during financial year 2020 and financial year 2021. Grant date share price was `40.76 per share
@ performance Bonus paid for his performance during FY 2018-19 based on RBI approval
202 | AnnuAl RepoRt 2019-20