With reference to the Deputy Governors of the Reserve Bank of India (RBI), consider the following statements: 1. The Deputy Governors of the RBI are appointed by the Central Government. 2. As per the RBI Act, the RBI can have four Deputy Governors. 3. The President of India has the authority to remove an RBI Deputy Governor from office. Which of the statements given above are correct? |ForumIAS

Q. With reference to the Deputy Governors of the Reserve Bank of India (RBI), consider the following statements:
1.The Deputy Governors of the RBI are appointed by the Central Government.
2.As per the RBI Act, the RBI can have four Deputy Governors.
3.The President of India has the authority to remove an RBI Deputy Governor from office.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A

Notes:

Explanations –

Statements 1 and 2 are correct. The Deputy Governors are appointed by the Central Government as per the provisions of the Reserve Bank of India Act, 1934. The RBI Act, 1934, specifies that there shall be one Governor and not more than four Deputy Governors at any given time.

Statement 3 is incorrect. The authority to remove a Deputy Governor lies with the Central Government, not the President of India.

Source: AIR

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