Regional Rural Banks Act, 1976 Regional Rural Banks Act, 1976 Regional Rural Banks Act, 1976
 
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Regional Rural Banks Act, 1976

 

Sections

Regional Rural Banks Act, 1976

 

Preamble

   
  PART I: PRELIMINARY
1.

Short title, extent and commencement

2.

Definitions

   
  PART 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 to the share holders

21.

Disposal of profits for purpose of the Income-tax Act, 1961

22.

Regional Rural Bank to be deemed to be a co-operative society

23.

Interest-tax not payable

   
  CHAPTER VA: 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

   
  CHAPTER VII: AMENDMENT OF CERTAIN ENACTMENTS
  SCHEDULE

 

Regional Rural Banks Act, 1976

 

 

 

 

 

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