This refers to Prudential Regulation G-1 B for Corporate/Commercial Banking, regarding "Responsibilities of the Board of Directors". Para 3 of PR G-1 B provides that all the members of the Board should undertake and fulfill their duties and responsibilities keeping in view their legal obligations under all the applicable laws and regulations.

2. The aforesaid Regulation envisages that the directors are well-acquainted with all applicable laws and regulations. In order to facilitate the Board members, it has been decided that the Company Secretary of the Banks/DFIs shall provide to all Board members the extracts from the relevant laws, rules and regulations regarding their powers, duties and responsibilities and keep them updated of any revisions/amendments therein.

3. The above instructions shall come into force with immediate effect. The Banks/DFIs are advised to communicate the contents of this circular to all their Board members.

4. Please acknowledge receipt.