If the Bank fails its statutory obligations the Central Board may be:
ASubdivided
BSubstituted
CSuperseded
DSuspended
Answer & Solution
Correct answer: C. Superseded
1. The Central Government forms the opinion.
2. It then notifies the step in the Gazette of India.
3. The Central Board is declared superseded.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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