•  The Governing Body shall generally carry out and pursue the objects of the society (NIRM), as set forth in the memorandum of association. The management of all the affairs and funds of the society shall, for this purpose, vest in the Governing Body.
  •  The Governing Body shall exercise all the powers of the society, subject nevertheless to such limitations as the General Body may, from time to time, impose in respect of the expenditure from the funds of the society and of grants made by the Government; provided always that the Governing Body shall have no greater powers in the matter of expenditure from the funds of the society than the Government possesses in respect of expenditure from public funds.
  •  In particular and without prejudice to the generality of the foregoing provisions, the Governing Body shall have the power, subject to the provisions of these Rules and Regulations to :
  •  Consider the annual and supplementary budget placed before it by the Secretary from time to time and pass them with such modifications as the Governing Body may think fit; create and abolish posts;
  •  Appoint various scientific, technical, administrative and other officers and staff of the society, fix their remuneration and define their duties;
  •  Enter into arrangements with the Government and through them with Foreign and International Agencies and organisations, the State Government and other public or private organisations or individuals for securing and accepting grants-in-aid, endowments, donations or gifts to the society, on mutually agreed terms and conditions; provided that such terms and conditions, if any, shall not be contrary to; inconsistent or in conflict with the objects of the society;
  •  Take over, acquire by purchase, gift, exchange, lease or hire or otherwise from Government and through them from Foreign and International Agencies and Organisations, the State Governments and other public or private bodies or individuals, institutions, libraries, laboratories, immovable properties, endowments or other funds together with any attendant obligations and engagements not inconsistent with the objects of the society;
  •  Appoint a Research Advisory Council, Committees and Sub-committees; for such purposes and with such powers and for such periods and on such terms as it may deem fit, and dissolve any of them;
  •  Delegate such administrative and financial powers as it may think proper to the Chairman, the Director, the Secretary and such other officers of the Society as may be considered necessary; and
In addition, subject to the Rules, Regulations and bye-laws GB has the overriding power on the following matters
  •  Preparation and sanction of budget estimates, sanctioning of expenditure, entering into and execution of contracts, investment of the funds of the Society, sale or alteration of such investments and maintenance of accounts and their audit;
  •  Procedure for recruitment of officers and establishment in the service of the Society;
  •  Terms and tenures of appointments, emoluments, allowances, rules of discipline and other conditions of service of the officers and establishments of the Society;
  •  Terms and conditions governing the grant of scholarships, fellowships and grants-in-aid for research schemes and projects not inconsistent with the objects of the Society;
  •  Such other matters as may be necessary for the administration of the affairs and funds of the Society.