Amendment status not verified — confirm the current text below against the official source.
1 [10C. Chairman and certain directors not to be required to hold qualification shares.-- 2 [A chairman of the Board of directors who is appointed on a whole-time basis or a managing director] of a banking company (by whomsoever appointed) and a director of a banking company (appointed by the Reserve Bank under section 10A) shall not be required to hold qualification shares in the banking company.]