Section 8 of RBI Act : Section 8: Composition Of The Central Board, And Term Of Office Of Directors
RBI Act
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Explanation using Example
Imagine the government wants to appoint a new Governor to the Reserve Bank of India (RBI). According to Section 8 of the RBI Act, 1934, the appointment is made by the Central Government. The newly appointed Governor, along with not more than four Deputy Governors, will form part of the Central Board of Directors of the RBI. These officials are dedicate...
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