It subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers and do all acts and things which may be exercised or done by the Bank.
This Central Board of Directors, as per the Act, comprises a Governor and (not more than four) Deputy Governors to be appointed by the Centre, four Directors to be nominated by the Centre and one government officials nominated by the Centre.
Giving control of the RBI to its Board of Directors effectively gives control to the Central Government.
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