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National Bank for Agriculture and Rural Development Act, 1981

6. Board of Directors.-

1.      The Board of Directors of the National Bank shall consist of the following, namely:--

a.      a Chairman;

b.     two directors from amongst experts in rural economics, rural development, handicrafts and other rural crafts, village and cottage industries and small-scale industries or in any other matter, the special knowledge or professional experience in which is considered by the Central Government as useful to the National Bank;

c.      three directors out of whom two shall be persons with experience in the working of co-operative banks and one shall be a person with experience in the working of commercial banks;

d.     three directors from out of the directors of the Reserve Bank;

e.      three directors from amongst the officials of the Central Government;

f.      two directors from amongst the officials of the State Governments; and

g.     a Managing Director.

1.     

2.      The Chairman and other directors shall be appointed by the Central Government in consultation with the Reserve Bank:

Provided that no such consultation shall be necessary in the case of directors appointed under clause (e) of sub-section (1).

1.     

2.     

3.      Where the Central Government is satisfied, in consultation with the Reserve Bank that it is necessary so to do, it may appoint one or more whole-time directors with such designations as may be deemed appropriate by that Government and any whole-time director so appointed shall also be a member of the Board:



National Bank for Agriculture and Rural Development Act, 1981 Back




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