Section 15
Committees of Board.
The National Bank for Financing Infrastructure and Development Act, 2021
About this Act
An Act to establish the National Bank for Financing Infrastructure and Development to support the development of longterm non-recourse infrastructure financing in India including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto.
(1) The Board shall constitute a Nomination and Remuneration
Committee, a Risk Management Committee and an Audit Committee, each consisting of a minimum of
three directors with independent directors forming a majority.
(2) The Board shall constitute an Executive Committee consisting of such number of directors as it may consider necessary.
(3) The Chairperson of the Institution shall not be a member of the Executive Committee and after the first year not be Chairperson of Audit Committee or the Nomination and Remuneration Committee.
(4) The Board may constitute such other committees as it may deem fit.
(5) The Executive Committee or any other committees constituted under this section shall meet at such times and places, observe such rules of procedure in regard to transaction of business at its meetings and shall perform such functions, as may be specified by regulations.
(2) The Board shall constitute an Executive Committee consisting of such number of directors as it may consider necessary.
(3) The Chairperson of the Institution shall not be a member of the Executive Committee and after the first year not be Chairperson of Audit Committee or the Nomination and Remuneration Committee.
(4) The Board may constitute such other committees as it may deem fit.
(5) The Executive Committee or any other committees constituted under this section shall meet at such times and places, observe such rules of procedure in regard to transaction of business at its meetings and shall perform such functions, as may be specified by regulations.