ICICI Bank 2006 Annual Report Download - page 19

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18
IV. Credit Committee
Terms of reference
The functions of the Committee include review of developments in key industrial sectors and approval of
credit proposals as per authorisation approved by the Board.
Composition
The Credit Committee comprises five Directors. It is chaired by N. Vaghul and a majority of its members
are independent Directors. There were 16 meetings of the Committee during the year. The details of the
composition of the Committee and attendance at its Meetings are as follows:
Name of Member Number of Meetings attended
N. Vaghul, Chairman 15
Narendra Murkumbi (w.e.f. April 29, 2006) N.A.
Somesh R. Sathe (up to January 28, 2006) 10
M.K. Sharma 14
P. M. Sinha (w.e.f. October 13, 2005) 2
K. V. Kamath 15
V. Fraud Monitoring Committee
Terms of reference
The Committee monitors and reviews all the frauds involving Rs.10.0 million and above.
Composition
The Fraud Monitoring Committee comprises five Directors, namely, M. K. Sharma, Narendra Murkumbi
(w.e.f. January 29, 2006), K. V. Kamath, Kalpana Morparia and Chanda D. Kochhar and is chaired by M. K.
Sharma. Uday Chitale was the Chairman of the Committee up to August 20, 2005.
There was one meeting of the Committee held in August 2005, which was attended by all the Members
except Kalpana Morparia, who participated through tele-conference.
VI. Risk Committee
Terms of reference
The Committee reviews ICICI Bank’s risk management policies in relation to various risks (portfolio,
liquidity, interest rate, off-balance sheet and operational risks), investment policies and strategy and
regulatory, compliance issues in relation thereto, customer service initiatives and functioning of the
customer service council.
Composition
The Risk Committee comprises five Directors. It is chaired by N. Vaghul and a majority of its members are
independent Directors. There were three meetings of the Committee during the year. The details of the
composition of the Committee and attendance at its Meetings are set out in the following table:
Name of Member Number of Meetings attended
N. Vaghul, Chairman 3
Uday Chitale (up to August 20, 2005) 1
Sridar Iyengar (w.e.f. August 21, 2005) 2
Marti G. Subrahmanyam(1) 2
V. Prem Watsa 1
K. V. Kamath 3
(1) Also participated in one meeting through tele-conference.
Directors’ Report