Jio Payments Bank was required to submit an application under Section 35B of the Act in the case of reappointment of MD & CEO of the bank four months prior to the date on which the term of the current position holders was to expire as per RBI guidelines.source https://economictimes.indiatimes.com/industry/banking/finance/rbi-imposes-penalty-on-jio-payments-bank/articleshow/78957522.cms
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