Correct answer: (c) 1 and 3 only
Explanation
- A
1 and 2 only
1 and 2 only. The Constitution does not give the Centre a general power to direct the RBI. Power sits in the RBI Act.
- B
2 and 3 only
2 and 3 only. Statement 2 is false; 1 and 3 hold.
- C
1 and 3 only
1 and 3 only. The Governor is appointed by the Central Government and draws powers from the RBI Act. There is no constitutional ‘directions in public interest’ clause of that kind.
- D
1, 2 and 3
All three. Statement 2 is the miss.
Summary. Official key is (c) 1 and 3 only. The RBI Governor is appointed by the Central Government and the office is a creature of the RBI Act, 1934. The Constitution does not vest a general public-interest power to issue directions to the RBI.
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