Managerial remuneration - Overall maximum Whether banking companies are to obtain approval of the Central Government where remuneration exceeded prescribed limits

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Full Text of the Document

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....imum ‑ Whether banking companies are to obtain approval of the Central Government where remuneration exceeded prescribed limits By virtue of the amendment effected in section 35B of the Banking Companies Act, 1949 by section 7 of the Banking Companies (Amendment) Act, 1962 (which came into force on the 16th September, 1962), the approval of the Reserve Bank of India is now necessary to th....