The provision empowering the Central Government to give directions to the Reserve Bank in public interest, after consultation with the Governor, is contained in:

Section 7 is the well-known provision under which the Central Government may, after consultation with the Governor of the Bank, give such directions to the RBI as it considers necessary in the public interest. Section 7 also provides that, subject to such directions, the general superintendence and direction of the Bank's affairs vests in the Central Board of Directors. This section attracted significant public attention during Centre–RBI tensions and is frequently examined for its bearing on RBI's autonomy. Section 8 concerns the composition of the Central Board, while Section 30 empowers the Government to supersede the Central Board.