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of <h1>Indian Institute of Corporate Affairs to Launch Databank for Independent Directors with Proficiency Tests and Study Materials.</h1> The Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019, established by the Indian Ministry of Corporate Affairs, require the Indian Institute of Corporate Affairs to create an online databank of individuals eligible and willing to serve as independent directors. This databank will include detailed personal and professional information and will be accessible to companies for a fee. Individuals can update their information and restrict certain personal data. The institute will also conduct proficiency tests and provide study materials. A panel of up to ten members will oversee the course content and study materials, with representatives from various government and industry bodies.
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