(1)The functions of the Governor-General with respect to the following matters shall be exercised by him in his discretion, that is to say-(a)the appointment and removal from office of the Governor and Deputy Governors of the Reserve Bank of India, the approval of their salaries and allowances, and the fixing of their terms of office;(b)the appointment of an officiating Governor or Deputy Governor of the Bank;(c)the supersession of the Central Board of the Bank and any action consequent thereon ; and(d)the liquidation of the Bank.(2)In nominating directors of the Reserve Bank of India and in removing from office any director nominated by him, the Governor-General shall exercise his individual judgment.GOI.153
