Section 33: Management Committee

1) There shall be a Management Committee, to remain under the Board, to be chaired by the Governor, in order to conduct the business of the Bank in a smooth manner. The two Deputy Governors shall be other members of the Management Committee, and one senior officer of the Bank designated by the Governor shall act as the member-secretary of the committee.

2) The functions, duties and powers of the Management Committee formed pursuant to sub-section (1) shall be as prescribed.

3) Notwithstanding anything contained in sub-section (1), the Governor may invite any of the officers to take part in the meeting of the Management Committee.

4) The Committee shall, in connection with discharging its functions, evaluate the country’s monetary and financial condition on a periodic basis. For this purpose, the Management Committee shall, at least once in a month, submit a report to the Board on the Bank’s administration and operation, operation of monetary and other regulatory policies, the soundness of the banking system of the country, condition of money, capital and foreign exchange market, implementation of such policies and impact they may have and situation on the banking system, and the significant events.