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The Regional Rural Banks Act, 1976

Contents

 

Sections

Particulars

 

Preamble

Chapter I

Preliminary

1

Short title, extent and commencement

2

Definitions

Chapter II

Incorporation and Capital of Regional Rural Banks

3

Establishment and incorporation of Regional Rural Banks

4

Offices and agencies

5

Authorised capital

6

Issued capital

7

Shares to be approved securities

Chapter III

Management

8

Management

9

Board of directors

10

Term of office of director

11

Chairman

12

Disqualifications

13

Vacation of the seat of directors

14

Meetings of Board

15

Committees of Board

16

Fees and allowances of directors and members of committees

17

Staff of Regional Rural Banks

Chapter IV

Business of a Regional Rural Bank

18

Business which a Regional Rural Bank may transact

19

Closure of accounts

Chapter V

Accounts and Audit

20

Annual report to be furnished the shareholders

21

Disposal of profits

22

Regional Rural Bank to be deemed to be a co-operative society for purpose of the Income-tax Act, 1961

23

Interest-tax not payable

Chapter V

Amalgamation of Regional Rural Banks

23A

Amalgamation of Regional Rural Banks

23B

Notification under section 23A to be sufficient notice to concerned parties

23C

Cessation of business of transferor Regional Rural Banks

23D

Liquidation of Regional Rural Banks

Chapter VI

Miscellaneous

24

Power of Central Government to give directions

24A

Inspection, audit and scrutiny by the Sponsor Bank

25

Obligations as to fidelity and secrecy

26

Bar to liquidation of Regional Rural Bank

27

Defects in appointment or constitution not to invalidate acts or proceedings

28

Indemnity of directors, etc

29

Power to make rules

30

Power to make regulations

31

Removal of difficulties

32

Act to Override the provisions of other laws

33

Amendment of certain enactments

34

Repeal and saving

The Schedule

Schedule

 

Schedule



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