Start learning 50% faster. Sign in now
RBI issued guidelines for compensation of key managerial personnel and senior management of non-banking finance companies, RBI said that the finance companies have to constitute a nomination and remuneration committee (NRC), which will have the mandate to oversee the framing, review and implementation of compensation policy of the company with the approval of the board. NRC will also have to work with the risk management committee of the company to achieve effective alignment between compensation and risks. NRC may ensure that compensation levels are supported by the need to retain earnings of the company and the need to maintain adequate capital based on Internal Capital Adequacy Assessment Process (ICAAP). These guidelines are as per the scale-based regulation for NBFCs introduced by RBI in October last year. RBI has said that all the fixed items of compensation, including the perquisites and contributions towards superannuation/retiral benefits, may be treated as part of fixed pay. These guidelines will come into effect from April 1, 2023 and will be effective on all the finance companies, apart from the ones in the base layer. The proportion of variable pay in the total compensation of the management of NBFCs should be commensurate with their role and prudent risk-taking profile and at higher levels of responsibility, the proportion of variable pay should be higher. The board of NBFCs may not offer guaranteed bonuses to the senior management and key managerial personnel.
During freeze drying removal of moisture occurs due to
The nicotine content of the leaves of Nicotiana rustica ranges from:
A disease of citrus plants in which cracks develop in the bark and sap oozes out. Profuse gumming on the surface is seen. It also causes leaf rot.
The range of period for medium range weather forecasting is
T.N. was conferred _____________ times with Krishi Karman award in 7 years for commendable performance in increasing production and productivity of var...
Which of the following is not a stem modification?
What is the term for the measurement of a tree's cross-sectional area, which is typically determined by measuring the diameter of the tree trunk at brea...
A system in which forest trees are grown along with agricultural crops and grasses for livestock on the same land at the same time is known as
Which Himalayan breed of goat is found in Jammu & Kashmir, Himachal Pradesh with long horns, curled backwards, droopy ears, small teats and color is whi...
What is the structure called?