n NISM Certifications
XV NISM Series XV
Medium

Under SEBI’s corporate governance framework, how many board members must be independent directors if the chairman is an executive director?

Practice question from NISM XV Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    At least 10%

  2. At least 50%

    Correct answer

  3. C

    At least 65%

  4. D

    At least 33%

Why this is the answer

If the chairman is an executive director, SEBI mandates that at least 50% of board members must be independent directors. If the chairman is non-executive, only one-third must be independent.

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NISM XV Mock Test 3