Section 8(2) in The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970
(2)A whole-time Director, including the Managing Director shall receive from the Nationalised Bank such salary, allowance, fees and perquisites and be governed by such terms and conditions as the Central Government may determine, after consultation with the Reserve Bank [* * *] [The words " in the case of first appointment and after consultation with the Board in the case of any subsequent appointment" omitted by S.O. 3467, dated 19.11.1973. ].
