Regional Rural Banks Act, 1976
Bare Act · 1976
An Act to provide for the incorporation, regulation and winding up of Regional Rural Banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto.
- Act number
- 21 of 1976
- Enacted
- 9 February 1976
- Contents
- 37 sections · 7 chapters
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Contents
Chapter I — Preliminary
Chapter II — Incorporation And Capital Of Regional Rural Banks
- Section 3 – Establishment and incorporation of Regional Rural Banks
- Section 4 – Offices and agencies
- Section 5 – Authorised capital
- Section 6 – Issued capital (preview)
- Section 7 – Shares to be approved securities (preview)
Chapter III — Management
- Section 8 – Management (preview)
- Section 9 – Board of directors (preview)
- Section 10 – Term of office of director (preview)
- Section 11 – Chairman (preview)
- Section 12 – Disqualifications (preview)
- Section 13 – Vacation of the seat of directors (preview)
- Section 14 – Meetings of Board (preview)
- Section 15 – Committees of Board (preview)
- Section 16 – Fees and allowances of directors and members of committees (preview)
- Section 17 – Staff of Regional Rural Banks (preview)
Chapter IV — Business Of A Regional Rural Bank
Chapter V — Accounts And Audit
- Section 19 – Closure of accounts (preview)
- Section 20 – Annual report to be furnished to the shareholders (preview)
- Section 21 – Disposal of profits (preview)
- Section 22 – Regional Rural Bank to be deemed to be a co-operative society for purpose of the Income-tax Act, 1961 (preview)
- Section 23 – Interest-tax not payable (preview)
Chapter VA — Amalgamation Of Regional Rural Banks
- Section 23A – Amalgamation of Regional Rural Banks (preview)
- Section 23B – Notification under section 23A to be sufficient notice to concerned parties (preview)
- Section 23C – Cessation of business of transferor Regional Rural Banks (preview)
- Section 23D – Liquidation of Regional Rural Banks (preview)
Chapter VI — Miscellaneous
- Section 24 – Power of Central Government to give directions (preview)
- Section 24A – Inspection, audit and scrutiny by the Sponsor Bank (preview)
- Section 25 – Obligations as to fidelity and secrecy (preview)
- Section 26 – Bar to liquidation of Regional Rural Bank (preview)
- Section 27 – Defects in appointment or constitution not to invalidate acts or proceedings (preview)
- Section 28 – Indemnity of directors, etc (preview)
- Section 29 – Power to make rules (preview)
- Section 30 – Power to make regulations (preview)
- Section 31 – Removal of difficulties (preview)
- Section 32 – Act to override the provisions of other laws (preview)