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Home › Indian Laws › Banking Regulation Act, 1949 › Section 35B
Banking Regulation Act, 1949 · Section guide

Section 35B: Appointments of managing directors, etc. subject to previous RBI approval

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 35B — Appointments of managing directors, etc. subject to previous RBI approval. Requires previous RBI approval for specified amendments/appointments concerning managing directors or other key management provisions; corporate approval does not substitute for the regulatory approval where this section applies.

Official statute linkedProvision-specific anatomyPractical case + evidence file
Official text: DFS consolidated Act

Statutory structure and provision map

This map is a provision-specific explanation, not a substitute for the exact statutory text.

Core statutory rule

Requires previous RBI approval for specified amendments/appointments concerning managing directors or other key management provisions.

Condition / limitation

corporate approval does not substitute for the regulatory approval where this section applies.

Source and effective-date control

Apply the wording of Section 35B that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.

Professional application

List management appointment/remuneration changes requiring prior approval and statutory exceptions.

Evidence / working-paper checklist

  • Section 35B evidence: board and committee composition register.
  • Section 35B evidence: fit-and-proper / experience / conflict declarations.
  • Section 35B evidence: appointment, removal or RBI approval correspondence.
  • Section 35B evidence: minutes recording abstention, approval and effective dates.

Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.

Common mistakes to avoid

  • For Section 35B, avoid counting titles instead of checking statutory experience/independence conditions.
  • For Section 35B, avoid implementing an appointment before a required RBI approval takes effect.
  • For Section 35B, avoid failing to record conflicts, abstentions or tenure calculations.

Linked Rules, RBI directions, notifications and forms

Linked instruments keep their own legal basis; they are not attributed to Section 35B unless the official instrument says so.

Related sections inside the Act

Section 35AA — Central Government authorisation for RBI directions to initiate insolvency resolutionSection 35AB — RBI directions in respect of stressed assetsSection 36 — Further powers and functions of Reserve BankSection 36A — Certain provisions not to apply to certain banking companies

Use these links to read Section 35B in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.

Current-law source control

Source control: Section 35B is anchored to the official DFS consolidated text; later changes require separate Gazette verification.

Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 35B on the event date.

Disclaimer

This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.