Section 54AA of RBI Act : Section 54Aa: Power Of Bank To Depute Its Employees To Other Institutions
RBI Act
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Explanation using Example
Imagine that the Reserve Bank of India (RBI) has a highly skilled cybersecurity expert, Mr. Sharma, as part of its staff. The National Payments Corporation of India (NPCI), which is an institution substantially owned by the RBI, is facing a significant challenge in enhancing its digital security framework.
Under Section 54AA of the Reserve Bank of India Act, 1934, the RBI decides to depute Mr. Sharma to NPC...
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