Appointment of whole-time directors: government approval with central bank consultation enables postings to corresponding new banks by notification. Amendment substitutes clause (a) of section 9 to limit appointment of whole-time directors in a corresponding new bank to a maximum appointed by the Central Government after consultation with the Reserve Bank and provides that the Central Government may, after consultation with the Reserve Bank, post any such whole-time director to another corresponding new bank by notification; 'corresponding new bank' is as defined in the earlier Act.
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Appointment of whole-time directors: government approval with central bank consultation enables postings to corresponding new banks by notification.
Amendment substitutes clause (a) of section 9 to limit appointment of whole-time directors in a corresponding new bank to a maximum appointed by the Central Government after consultation with the Reserve Bank and provides that the Central Government may, after consultation with the Reserve Bank, post any such whole-time director to another corresponding new bank by notification; "corresponding new bank" is as defined in the earlier Act.
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