📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Under Section 45ZD of the RBI Act, 1934, the Members of

      the Monetary Policy Committee appointed by the Central Government hold office for a period of four years and are subject to what condition regarding re-appointment?
      A They are eligible for re-appointment for one further term Correct Answer Incorrect Answer
      B They shall not be eligible for re-appointment Correct Answer Incorrect Answer
      C They are eligible for re-appointment without limit Correct Answer Incorrect Answer
      D They are eligible for re-appointment after a gap of two years Correct Answer Incorrect Answer
      E They are eligible for re-appointment up to the age of seventy Correct Answer Incorrect Answer

      Solution

      Section 45ZD(1) provides that the Members of the Monetary Policy Committee appointed under clause (d) of Section 45ZB(2) shall hold office for a period of four years and shall not be eligible for re-appointment. A Member may resign by giving not less than six weeks' written notice to the Central Government. This single-term rule preserves the independence of appointed members. The correct condition is that they shall not be eligible for re-appointment.

      Practice Next
      More Banking Related Laws Questions
      ask-question