Section 16(2) in The Reserve Bank Of India General Regulations, 1949
(2)Any other officer not below the rank of a Staff Officer Grade II may, if authorised and to the extent that he is so authorised by the Governor in this behalf, exercise all the powers in relation to matters pertaining to the department or office in which he is employed, and in relation to such matters, do all acts and things which may be exercised or done by the Bank, subject however to the conditions hereinafter specified, namely:-(a)the power to sanction or incur any expenditure on behalf of the Bank shall be subject to rules made by the Central Board;(b)any other power exercised or action taken shall be exercised or taken subject to such directions if any as may be given by any higher officer or authority in this behalf.
