Section 11 - Removal from and vacation of office : RBI Act 1934
What is Removal from and vacation of office? Section 11 of
Reserve Bank of India Act 1934
Section 11 of RBI Act 1934 : "Removal from and vacation of
(1) The Central Government may remove from office
the Governor, or a Deputy Governor or any other
Director or any member of a Local Board.
(2) A Director nominated under clause (b) or clause (c) of
sub-section (1) of section 8 shall cease to hold office if
without leave from the Central Board he absents himself from
three consecutive meetings of the Board convened under
sub-section (1) of section 13.
(3) The Central Government shall remove from office any
Director, and the Central Board shall remove from office any
member of a Local Board, if such Director or member becomes
subject to any of the disqualifications specified in sub-section
(1) or sub-section (2) of section 10.
(4) A Director or member of a Local Board removed or ceasing
to hold office under the foregoing sub-section shall not be
eligible for re-appointment either as Director or as member of a
Local Board until the expiry of the term for which his
appointment was made.
(5) The nomination as Director or member of a Local
Board of any person who is a member of Parliament or the
Legislature 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.
(6) A Director may resign his office to the Central
Government, and a member of a Local Board may resign his office
to the Central Board, and on the acceptance of the resignation
the office shall become vacant.