Multiple choice

RBI can appoint a new director in a banking company in place of another director. The person so appointed shall continue to be in office

  1. for 3 years

  2. till the date up to which his predecessor would have held office

  3. till the date up to which RBI issues another order

  4. till the date the Board re–appoints him
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Every director elected under 'election of new directors', shall hold office until the date up to which his predecessor would have held office, if the election had not been held. Thus, option 2 is the correct answer.

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