law: State Financial Corporations Act, 1951 
  23. Officers and other employees of the Financial
  
  Corporation 
  The Financial Corporation may appoint such officers, advisers
  
  and employees as it considers necessary for the efficient performance of its
  
  functions, and determine, by regulations, their conditions of appointment and
  
  service and the remuneration payable to them:
  PROVIDED  that the State Government may, in consultation
  
  with and after obtaining the advice of the Development Bank, specify the class
  
  or categories of posts in respect of which appointments may be made by the
  
  Board on such remuneration and other conditions of service as the Board may
  
  determine, and no regulation made under this Act shall apply to such posts in
  
  respect of matters so determined by the Board.