Elaborate the role of the Board of Directors, Chairman and/or CEO and committees of the Board in Governance matters. List some of the important Committees of the Board constituted in banks for governance.

Role of the Board of Directors, Chairman and/or CEO and Committees of the Board in Governance: Role of the Board of Directors The Board of Directors of the bank should meet regularly and to provide effect leadership and insights in business and functional areas. They also should monitor Bank's performance. Setting up of a framework of strategic control and continuously reviewing it's efficacy. Implementation, review and monitoring the integrity of it's business and control mechanisms. Overseeing the risk profile of the Bank. Ensuring expert management and decision makings internal control and reporting requirements. Maximising the interests of its stakeholders. Role of Chairman and/or CEO: They have the responsibilities for all aspects of executive management and are accountable to the Board for the ultimate performance of the Bank and implementation of the policies laid down by the board. Committees of the Board: Important board level committees are framed to assist the Board of Directors to functional effectively. These committees provide effective professional support in the conduct of Board level business in key areas. Some of the important committees of the Board constitutes in banks for governance are: Audit Committee of Board. Risk Management Committee. Stakeholders Relationship Committee. Fraud Review and Monitoring Committee. Customer Service Committee. IT Strategy Committee. Remuneration and Nomination Committee etc. Corporate Social Responsibility Committee.