Section 11(5) in The Reserve Bank of India Act, 1934
(5)The nomination as Director or member of a Local Board of any person who is a member of Parliament or the LegisÂlature of any State shall be void, unless within two months of the date of his nomination he ceases to be such member, and if any Director or member of a Local Board is elected or nominated as a member of Parliament or any such Legislature, he shall cease to be a Director or member of the Local Board as from the date of such election or nomination, as the case may be.
