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<h1>Reserve Bank powers expanded to remove directors, supersede boards and strengthen penalties and supervisory remedies.</h1> The Bill enhances the Reserve Bank's regulatory powers by increasing the net owned fund requirement for non-banking financial companies, creating statutory powers to remove directors and supersede boards, authorising sanctions against non-compliant auditors, establishing a resolution framework for non-banking financial companies, providing powers over group entities, and raising penalties under sections 58B and 58G to higher prescribed amounts.