STATE BANK OF TRAVANCORE vs ELIAS ELIAS & ORS.

The Supreme Court held that under Section 45(5)(i) of the Banking Regulation Act, 1949, the Reserve Bank's decision regarding the qualifications and experience of employees is final, but this finality does not extend to matters of rank and status. The Court ruled that the respondent, a civil agent, was entitled to be classified in a cadre equivalent to his previous rank and status, as he met the necessary qualifications. The decision of the Reserve Bank regarding the subordinate cadre was deemed unsupported by evidence, thus the State Bank could not reclassify the respondent without proper justification.