Amendment status not verified — confirm the current text below against the official source.
(1) In the discharge of its functions 1 *** the State Bank shall be guided by such directions in matters of policy involving public interest as the Central Government may, in consultation with the Governor of the Reserve Bank and the chairman of the State Bank, give to it. (2) 2 [All directions shall be given by the Central Government] and, if any question arises whether a direction relates to a matter of policy involving public interest, the decision of the Central Government thereon shall be final.
Amended up to 2018-11-19View on India Code →