Appointment and Removal of the Chief Executive Officer

27[ 27A. Appointment and Removal of the Chief Executive Officer.-

1. (1) The Chief Executive Officer of the Apex Co-operative Bank or a Central Co-operative Bank shall be appointed by the committee of the concerned bank and fulfil such criteria as may be stipulated by the Reserve Bank of India.
2. (2) A person who does not fulfil the criteria for the post of the Chief Executive Officer of the Apex Co-operative Bank or a Central Cooperative Bank as stipulated by the Reserve Bank of India shall be treated as ineligible for such post and if such person is holding the post, he shall be removed on receipt of advice to this effect from the Reserve Bank of India or the National Bank.