Section 24: Details of Directors to be collected

A bank or financial institution shall collect the following details of a Director:-

(a) Name, surname, address, academic qualifications, profession and experience of the Director,

(b) Details as to designation and responsibility if he/she has worked earlier as Director, official or employee of any other agency,

(c) Details as to name and address of family of the Director and relevant person’s details and financial interests of himself/herself or his/her family in bank or financial institution or other agencies, share ownership in his/her name and names of the family of said institution,

(d) Details of the shares and debentures subscribed by the Director or his/her family members in the bank or financial institution or its holding or subsidiary company,

(e) Details of the family members working as officials or employees in the concerned bank or financial institution, if any,

(f) Details as to whether the concerned bank or financial institution has, or is going to have, any type of agreement with himself/herself or his/her family member,

(g) Details as to whether any type of interests or concerns with regard to the appointment of Chief Executive, Company Secretary and Auditor,

(h) Written authority given to the Rastra Bank to allow it to conduct an inquiry or to cause to be conducted the inquiry as to the financial and professional background of the Director,

(i) Self-declaration that he/she is qualified to be the Director pursuant to this Act,

(j) Any other details as specified by Rastra Bank from time to time to be furnished before the Rastra Bank and the Board of Directors.