Consider the following statements :
- 1. The Governor of the Reserve Bank of India (RBI) is appointed by the Central Government.
- 2. Certain provisions in the Constitution of India give the Central Government the right to issue directions to the RBI in public interest.
- 3. The Governor of the RBI draws his power from the RBI Act.
Which of the above statements are correct?
[amp_mcq option1=”1 and 2 only” option2=”2 and 3 only” option3=”1 and 3 only” option4=”1, 2 and 3″ correct=”option3″]
This question was previously asked in
UPSC IAS – 2021
– The power of the Central Government to issue directions to the RBI in public interest is derived from Section 7 of the Reserve Bank of India Act, 1934, not directly from the Constitution of India. Statement 2 is incorrect.
– The powers and functions of the RBI Governor are defined and drawn from the Reserve Bank of India Act, 1934. Statement 3 is correct.