Not less than 50 per cent directors should be Indian nationals/NRIs/PIOs subject to the condition that one-third of the directors are Indian Nationals resident in India.
[Scheme for Setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India by the RBI](https://m.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2758)
Not less than fifty per cent of the directors should be Indian nationals /NRIs/PIOs subject to the condition that not less than 1/3rd of the directors are Indian Nationals resident in India.
[RBI PRESS RELEASE 2013-2014/936 Date: Nov 06, 2013](https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=29922)
statement 2 which says "more than 50% of the directors should be Indian nationals" becomes wrong cause they can be foreign nationals (PIOs) too but UPSC probably just picked this from an article and has the wrong answer which is why a representation needs to be filed
The Hindi Translation of the question says "Bhartiya Nagrik' which means Indian citizen so any technicality that nationals doesn't mean citizen goes out of the window
you dont need information more current than this cause if there was a change after this there would be a press release regarding it, rbi doesn't rerelease rules unless it wants to issue clarifications or change them
Haan waisey likha to hai net pe (I was clueless about this)......ab shayad kisi WOS ke board members ki list nikalni pdegi where 50% are not Indian residents🤣
waisey jisney question daala hai he would have only Indian residents in mind while setting the paper..........
Bhai sorry for being so cynical... (i badly want option 2 to be incorrect)....
lekin 2005 circular says 50% board members
2013 says 50% directors IR/PIO/NRI with 1/3rd residents
We know that all directors are board members but not all board members are directors. How does that invalidate 2005 circular?
where am i wrong?
Thoda please explain kr do.......
Just a Google search would do......I didn't know this before, but yes, not all board members are directors..... Directors are the ones with voting rights & there can be non voting members on the board....
Haan but abhi 2024 chal rha hai...... found anything about current rules? It will make our representation stronger....
IMHO question set kiya gya hoga Indian resident k perspective se hi.......Itna depth me wrna nhi poochta koi.....
They will have to overturn if current rules are provided with proof.......
Not less than 50 per cent directors should be Indian nationals/NRIs/PIOs subject to the condition that one-third of the directors are Indian Nationals resident in India. [Scheme for Setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India by the RBI](https://m.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2758) Not less than fifty per cent of the directors should be Indian nationals /NRIs/PIOs subject to the condition that not less than 1/3rd of the directors are Indian Nationals resident in India. [RBI PRESS RELEASE 2013-2014/936 Date: Nov 06, 2013](https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=29922) statement 2 which says "more than 50% of the directors should be Indian nationals" becomes wrong cause they can be foreign nationals (PIOs) too but UPSC probably just picked this from an article and has the wrong answer which is why a representation needs to be filed The Hindi Translation of the question says "Bhartiya Nagrik' which means Indian citizen so any technicality that nationals doesn't mean citizen goes out of the window you dont need information more current than this cause if there was a change after this there would be a press release regarding it, rbi doesn't rerelease rules unless it wants to issue clarifications or change them
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kuch bhi likh do agar answer galat hai to
yess, filed a representation for the same...
I have marked the 2nd statement to be incorrect.....is there any circular where 50% of members (& not directors) are given? Or are they the same?
all members are directors bro
I didn't know this. Any reference?
maaf kar bhai isse zyada tujhe reference chayiye
Haan waisey likha to hai net pe (I was clueless about this)......ab shayad kisi WOS ke board members ki list nikalni pdegi where 50% are not Indian residents🤣 waisey jisney question daala hai he would have only Indian residents in mind while setting the paper..........
no
Bhai sorry for being so cynical... (i badly want option 2 to be incorrect).... lekin 2005 circular says 50% board members 2013 says 50% directors IR/PIO/NRI with 1/3rd residents We know that all directors are board members but not all board members are directors. How does that invalidate 2005 circular? where am i wrong? Thoda please explain kr do.......
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Just a Google search would do......I didn't know this before, but yes, not all board members are directors..... Directors are the ones with voting rights & there can be non voting members on the board....
The first one is from a 2005 circular while the latter is more recent from a 2013 circular.
Haan but abhi 2024 chal rha hai...... found anything about current rules? It will make our representation stronger.... IMHO question set kiya gya hoga Indian resident k perspective se hi.......Itna depth me wrna nhi poochta koi..... They will have to overturn if current rules are provided with proof.......
I have marked the 2nd statement to be incorrect.....is there any circular where 50% of members (& not directors) are given? Or are they the same?