Independent directors to take corporate literacy exams following scandals in India

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Independent directors sitting on Indian company boards will have to pass series of exams before they can be appointed. The exam will focus on Indian company law, using online assessment methods. Experienced directors who have served on company boards will be exempt from the exam, however they will be required to register themselves on a government database, which is in its preparation stage. It is hoped that the new corporate governance reform will ensure better accountability and oversight of market rules.

Bloomberg, Shruti Srivastava, June 11th 2019