(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)is, or at any time has been, adjudged as an insolvent; or
(b)has become physically or mentally incapable of acting as a Member; or
(c)has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude; or
(d)has failed to adequately disclose any material conflict of interest at the time of his appointment; or
(e)does not attend three consecutive meetings of the Monetary Policy Committee without obtaining prior leave; or
(f)has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or
(g)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)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.