RBI Revises Board Review Calendar for Public Sector Banks

RBI/2004-05/488 DBOD.No.BP.BC. 96/21.03.038/2004-05 June 10, 2005 The Chief Executives of All Public Sector Banks Dear Sir, Revised Calendar of Reviews Please refer to our circularDBOD.No.BP.BC. 3/21.03.038/2000 dated July 14, 2000 advising Calendar of Reviews to be submitted to the Board and Management Committee of the bank. 2. In view of reports of increasing burden on Boards of banks on account of the calendar of reviews to be undertaken by them and to ensure that the calendar of reviews reflects the present day concerns, the calendar items have been reviewed. While retaining the basic structure of the calendar issued in the year 2000, the total number of reviews have been reduced by leveraging the work of the several committees of the boards. The revised calendar of reviews to be put up to the Board, Management Committee and Audit Committee are detailed in Annex I, to III ( Annex I , Annex II , Annex III ). It is emphasised that the above calendar outlines the critical minimum requirements of review and the bank Boards will have discretion to prescribe additional reviews to suit their requirements. 3. The revised schedule may please be brought into force with effect from 1st July 2005. If for any particular reason it is not possible to place the memorandum as per the calendar before the Board in the month it is due, a note should be put up to the Board giving reasons for the delay and when the review is proposed to be placed before the Board. 4. Please acknowledge receipt. Yours faithfully, (Anand Sinha) Chief General Manager-In-Charge Annexure - I Revised Calendar of Reviews to be put up to the Board Every Board Meeting 1 Funds Management A report on Funds and Treasury Management including derivatives giving the position as on the last reporting Friday of every month from the previous Board meeting. The report should contain summary of the total purchase/sales transactions without transaction-wise details. Compliance with CRR/SLR requirements may also be reported. The review should give an overview on deposit growth and also look at the achievement of investment policy objectives. 2 Position Report A Report giving details of Deposits, Advances, Investments, C-D Ratio, NPAs, Recovery thereof, etc. as on last reporting Friday. Compliance in respect of outstanding observations of the Board, adherence to exposure norms may also be included. The Report should not be a fact sheet but should capture qualitative data on the important market trends, market developments, regulatory initiatives, etc. between the review periods and should stimulate constructive suggestions and discussions on critical appraisal of the strategies followed presently and the need for changes. 3 Compliance Reporting The Compliance Reporting may be made on an exception basis. 4 Reports from Committees of the Board The Board may consider reports from Management Committee, Audit Committee and Committees on Risk Management. Reports from Compensation and Nomination Committees, etc. may be put up to the Board as and when developments take place

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2004-05/488 · issued 10 Jun 2005. The plain-English explanation above is BankPulse’s own independent summary.

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