law: Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970  
  8.Corresponding new banks to be guided by the directions
  
  of the Central Government.-  
  Every corresponding new bank shall, in the discharge of its
  
  functions, be guided by such directions in regard to matters of policy
  
  involving public interest as the Central Government may, after consultation
  
  with the Governor of the Reserve Bank, give.