Lawgist45ZDTerms and conditions of appointment of Members of Monetary Policy Committee
1[45ZD. Terms and conditions of appointment of Members of Monetary Policy Committee--(1) The Members of the Monetary Policy Committee appointed under clause (d) of sub-section (2) of section 45ZB shall hold office for a period of four years and shall not be eligible for re-appointment.
(2) The terms and conditions of appointment of Members of the Monetary Policy Committee shall be such as may be prescribed by the Central Government and the remuneration and other allowances payable to such Members shall be such as may be specified by the regulations made by the Central Board.
(3) A Member may resign from the Monetary Policy Committee, at any time before the expiry of his tenure under sub-section (1), by giving to the Central Government, a written notice of not less than six weeks, and on the acceptance of the resignation by the Central Government, he shall cease to be a Member of the Monetary Policy Committee.]
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1. Ins. by Act 28 of 2016, s. 222 (w.e.f. 27-6-2016).
- 45Z Provisions of this Chapter to override other provisions of Act
- 45ZA Inflation target
- 45ZB Constitution of Monetary Policy Committee
- 45ZC Eligibility and selection of Members appointed by Central Government
- 45ZD Terms and conditions of appointment of Members of Monetary Policy Committee
- 45ZE Removal of Members of Monetary Policy Committee
- 45ZF Vacancies, etc., not to invalidate proceedings of Monetary Policy Committee
- 45ZG Secretary to Monetary Policy Committee
- 45ZH Information for Monetary Policy Committee Members
- 45Z-I Meetings of Monetary Policy Committee
- 45ZJ Steps to be taken to implement decision of Monetary Policy Committee
- 45ZK Publication of decisions
- 45ZL Publication of proceedings of meeting of Monetary Policy Committee
- 45ZM Monetary Policy Report
- 45ZN Failure to maintain inflation target
- 45ZO Power to make rules
