(1)There shall be a Credit Approval Committee of the Board.(2)The Credit Approval Committee shall consist of-(a)[ the Managing Director and Chief Executive Officer.](b)the Executive Directors;(c)the Chief General Manager or the General Manager in-charge of the Credit;(d)the Chief General Manager or the General Manager, as the case may be, in-charge of the Finance; and(e)the Chief General Manager or the General Manager, as the case may be, in-charge of the Risk Management.(3)The Credit Approval Committee shall exercise the powers of the Board with regard to credit proposals-(a)up to the four hundred crore rupees in case of the Category A Banks having business of three lakh crore rupees or more; or(b)up to the two hundred fifty crore rupees in case of the other Nationalised Banks.(3A)[ Notwithstanding anything contained in sub-paragraph (3), in banks with net non-performing assets of less than six per cent. of risk-weighted assets, the Credit Approval Committee shall exercise the powers of the Board with regard to credit proposals-(a)up to eight hundred crore rupees, in case of banks having total business of more than ten lakh crore rupees; or(b)up to six hundred crore rupees, in case of banks having total business of more than five lakh crore rupees and up to ten lakh crore rupees; or(c)up to five hundred crore rupees, in case of banks having total business of more than three lakh crore rupees and up to five lakh crore rupees; or(d)up to two hundred fifty crore rupees, in case of other nationalised banks.Explanation. - For the purposes of this sub-paragraph, net non-performing assets, risk weighted assets and total business shall be reckoned as per the last declared results of the bank, and the expression total business means the summation of the gross loans and advances and the total deposits of the bank.] [Inserted by Notification No. S.O. 3350 (E), dated 17.9.2019 (w.e.f. 28.11.1970).](4)The credit proposals which exceed the power delegated to the officials of the Nationalised Banks including powers delegated to the [Managing Director and Chief Executive Officer] [Substituted 'Chairman and Managing Director' by Notification No. S.O. 349(E), dated 4.2.2015, (w.e.f. 28.11.1970).], and the credit proposals being considered by the Management Committee shall be considered by the Credit Approval Committee subject to the limit specified in [sub-paragraph (3)] [Substituted 'sub-clause (3)' by Notification No. S.O. 3350 (E), dated 17.9.2019 (w.e.f. 28.11.1970).] and the credit proposals which exceed such limits be considered by the Management Committee.(5)The quorum for a meeting of the Credit Approval Committee shall be three members. (6)The meetings of the Credit Approval Committee shall be attended by the [Managing Director and Chief Executive Officer] [Substituted 'Chairman and Managing Director' by Notification No. S.O. 348(E), dated 4.2.2015, (w.e.f. 28.11.1970).], and one of the Executive Director.(7)The minutes of the Credit Approval Committee shall be laid before the Board as soon as may be after the end of the meeting.(8)Save as otherwise provided in this [Paragraph] [Substituted 'Clause' by Notification No. S.O. 3350 (E), dated 17.9.2019 (w.e.f. 28.11.1970).], the provisions of [Paragraph] [Substituted 'Clause' by Notification No. S.O. 3350 (E), dated 17.9.2019 (w.e.f. 28.11.1970).] 12 relating to meetings of the Board shall, mutatis mutandis, apply to the Credit Approval Committee in respect to the procedure in regard to the transaction of business at its meetings as they apply to the Board.](9)[ Banks in which the post of "Managing Director and Chief Executive Officer" has not been operationalised, the term "Managing Director and Chief Executive Officer" shall be read as Chairman & Managing Director, till such time the post is operationalized.] [Inserted by Notification No. S.O. 348(E), dated 4.2.2015, (w.e.f. 28.11.1970).]
