Amendment of BYE-LAWS

BYE-LAW NO. EXISTING BYE-LAW AMENDMENTS TO EXISTING BYE-LAW REASON
40 A Constitution of Board of Management

To exercise oversight over banking related

functions of the Bank and to assist the Board of Directors on formulation of policy and any other related matters specifically

delegated to it by the Board,

Functions of the Board of Management

Its functions include as per Annex – 1 1. Considering loan proposals as per the Board approved policy and making recommendations to the Loan

Committee or BOD sanction

2. Recommending action for recovery of NPA’s, One Time Settlement of 3. Management or funds and borrowings

Compromise Settlement.

4. Considering proposals for investment of banks funds as per the board approved policy and making recommendations to the Investment Committee or BOD for approval

5. Implementing sound eternal controls and systems, preparation/ implementation of Risk Management policy

6. Computerisation, technology adoption 7. Overseeing internal audit and

inspection functions

8. Compliance functions 9. Customer Service, Complaints

Handling/Grievance Redressal 10. Any other responsibility as may be

delegated to it by the BOD

In accordance to the

circular

RBI/2019-20/128 DoR (PCB).BPD.Cir.No.8/ 12.05.00 2/2019-20 dated

31 December 2019

Size of BOM

The BoM (excluding CEO) shall have a A minimum of five members. The maximum number of members in BoM shall not exceed twelve. The CEO would be a non voting member.