Section 10: Governor and Deputy Governors

1[10. Governor and Deputy Governors.⸺(1) The Governor of the Bank shall be its chief executive officer, who shall chair the Executive Committee and ensure the implementation of the decisions taken and policies adopted by the Board of Directors, Executive Committee and Monetary Policy Committee, and shall represent the Bank externally in person or through a nominee. (2) At any time when the office of Governor is vacant or the governor is incapacitated, the senior most Deputy Governor shall be the Acting governor, until the Governor is appointed. Whenever, the Governor is on leave or travelling abroad, he may designate in writing one of the Deputy Governors as Acting Governor who, while chairing Board meeting in the absence of Governor, shall in casa of equality of votes have casting vote. (3) There shall be three Deputy Governors. (4) A Deputy Governor shall perform such duties as may be assigned to him by the Governor. (5) Persons eligible to serve the offices referred to in sub-sections (1) and (3) shall possess recognized integrity, expertise and advanced degree from a recognized university in the fields of economics, financial services, accountancy or banking with relevant professional experience in any such field for at least ten years.]

Effective date: 1956-04-18

Related sections