[Removal of Members of Monetary Policy Committee.
45ZE. (1) The Central Government may remove from office any Member of the Monetary Policy Committee appointed under clause (d) of sub-section (2) of section 45ZB, who—
| (a) |
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is, or at any time has been, adjudged as an insolvent; or |
| (b) |
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has become physically or mentally incapable of acting as a Member; or |
| (c) |
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has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude; or |
| (d) |
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has failed to adequately disclose any material conflict of interest at the time of his appointment; or |
| (e) |
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does not attend three consecutive meetings of the Monetary Policy Committee without obtaining prior leave; or |
| (f) |
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has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or |
| (g) |
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has acquired any post referred to in clauses (ii), (iii), (iv) and clause (v) of the proviso to sub-section (1) of section 45ZC; or |
| (h) |
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has, in the opinion of the Central Government, so abused his position as to render his continuance in office detrimental to the public interest. |
(2) No Member appointed under clause (d) of sub-section (2) of section 45ZB shall be removed under clause (d) or clause (e) or clause (f) or clause (g) or clause (h) of sub-section (1) unless he has been given a reasonable opportunity of being heard in the matter.]
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