Secondly, out of the twenty-five stockholders of the Bank, five of these were government owned. Thus showing support of the Bank by subscribing to one-fifth of its $35 million (Schlesinger 74). In addition, among the Bank’s functions was to hold all government money, sell all government bonds, and make commercial loans. However, no voters could dictate its policies or reign in its power, due to its privately owned status (Roughshod 2). Finally, the government also allowed bank notes to be used as payment for taxes.
There are four parts that can explain the effective member of the board, in terms of general, governance, ambassador, and consultant. Firstly, general. The member of the board of director should happily to give their time on the
The primary responsibility of the Board of Directors is to protect the interests of shareholders and maximize their wealth, guaranteeing the growth of the value of the corporation. Members of the Board of Directors are responsible for all affairs of the corporation and, in case of its bankruptcy, they may be involved in administrative and criminal proceedings. The Board of Directors dimension shall be determined by the needs of effective management, but the minimum number in accordance with the laws of each state can be from one to three members.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them.
These reserve banks also have their own Board of Directors, which is made up of 6 people appointed by the member banks who hold stock in the reserve bank, as well as 3 people appointed by the Board of Governors. Together all of these banks make up the Federal Reserve, and attempt to manipulate the economy through the use if the FOMC.
Moreover, the Board of Governors are an independent governmental agency who have the responsibility of overseeing the Federal Reserve System. The board members are selected by the President and approved by the Senate. The board consists of seven
Coyle (2014) notes that the composition of the Board of Directors is dependent on the size of the company. The board is normally composed of a chairman, the Chief Executive Officer, a Senior Independent Director, executive directors and non-executive directors (NEDs).
The Board of Directors currently hosts 13 members, of which, four are women and two are minorities. There are six distinct committees of the board consisting of (a) audit, (b) compensation and benefits, (c) finance, (d) nominating and corporate governance, (e) public policy, and (f) science and technology. The committees receive recommendations and guidance from 22 corporate officers and 19 company group chairmen. The 2005 Annual Report also details the accomplishments of the members of the Board of Directors. There is a vast wealth of experience and knowledge within the Board of Directors including:
Describe the role of the Board of Directors in comparison to the role of the Executive Director. What is expected of each, who is in charge of what and in what
India Stock Market is one of the oldest in Asia. The earliest records of securities dealings in India are meagre and obscure. The East India Company was the dominant institution in those days and business in its loan securities used to be transacted.
The Board of the Company consists of 11 (eleven) Independent Directors and 2 (two) Inside Directors. They have expertise in the areas of business, finance, law, audit and public companies.
Joshua Kennon (2007), stated that “The board of directors is the highest governing authority within the management structure at any publicly traded company and is usually made up of the directors who are elected for a specific number of years by the shareholders”. According to Wikipedia,” A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization”.