MANGAEMENT OF THE EXIM BANKCentral
Section 7 of The Export-Import Bank of India Act, 1981
- (1)The Board may constitute such Committees whether consisting wholly of directors or wholly of other persons or partly of directors and partly of other persons for such purpose or purposes as it may think fit.
- (2)Any Committee constituted under sub-section (1) shall meet at such times and places and shall observe such rules or procedure in regard to the transaction of business at its meeting as may be prescribed.
Summary
- The Board of Directors has the power to create various Committees.
- These Committees can be made up entirely of directors from the Board.
- They can also include people who are not on the Board at all.
- A Committee can have a mix of both Board directors and outside experts.
- The Board decides the specific reason or purpose for creating each Committee.
- The rules for when and where these Committees meet are set by official regulations.
Practical examples
1The Board creates a new Technology Advisory Committee on June 1, 2026. They appoint two directors from the Board and three outside software experts to help modernize the bank's digital systems.
2In September 2026, the Board sets up a temporary Audit Committee consisting only of existing directors to review the previous year's financial statements.
FAQ
1. Who decides why a Committee is formed?
The Board of Directors determines the purpose of any Committee it chooses to create.
2. Where are the rules for Committee meetings written?
The specific rules for the time, place, and procedures of meetings are established in the bank's prescribed regulations.
Test yourself
Q1.Under Section 7 of The Export-Import Bank of India Act, 1981, which body has the authority to form a Committee?
Q2.According to Section 7 of The Export-Import Bank of India Act, 1981, who can be a member of a Committee?
Q3.Under Section 7 of The Export-Import Bank of India Act, 1981, what determines the procedure for a Committee meeting?
Q4.If the Board wants to create a Committee for a specific project under Section 7 of The Export-Import Bank of India Act, 1981, how is the purpose of that Committee defined?