The Small Industries Development Bank of India Act, 1989
1. The general superintendence, direction and management of the affairs and business of the Small Industries Bank shall vest in a Board of Directors, which may exercise all powers and do all acts and things which may be exercised or done by the Small Industries Bank.
2. In the discharge of its functions under this Act, the Small Industries Bank shall be guided by such directions in matters of policy involving public interest as the Central Government, in consolation with the Development Bank, or the Development Bank, may given in writing.
3. Save as otherwise provided in regulations made under this Act, the Chairman shall also have power of general superintendence and direction of the affairs and business of the Small Industries Bank and may also exercise all powers and do all acts and things which may be exercised or done by that Bank.
4. Subject to the provisions of this Act, the Board in discharging its functions shall act on business principles with due regard to public interest.