Multiple choice

As a part of corporate governance, the concept of ‘fit and proper’ relates to which of the following aspects?

  1. Appointment of directors of banks

  2. Management of banks

  3. While deciding Board of Directors

  4. Staff of banks
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A Correct answer
Explanation

According to the Reserve Bank, 'fit and proper' is for the status of the directors nominated by the Government or elected by the shareholders to the Boards of the Public Sector Banks.

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