Section 11. Included by RBI Notification No. DBOD.IBD. No. 8739/23.03.018/2008-09, dated 4th December, 2008

11. Included by RBI Notification No. DBOD.IBD. No. 8739/23.03.018/2008-09, dated 4th December, 2008. 11. Removal from and vacation of office.— (1) The[3] [Central Government] may remove from office the Governor, or a Deputy Governor or[4] [any other Director or any member of a Local Board]: 5* * * * * 6[(2) A Director nominated under clause (b) or clause (c) of sub-section(1) of section 8 shall cease to hold office if without leave from the Central Board he absents himself from three consecutive meetings of the Board convened under sub-section (1) of section 13.] (3) The[3] [Central Government] shall remove from office any Director, and the Central Board shall remove from office any member of a Local Board, if such Director or member becomes subject to any of the disqualifications specified in sub-section (1) or sub-section (2) of section 10. (4) A Director or member of a Local Board removed or ceasing to hold office under the foregoing sub-sections shall not be eligible for re-appointment either as Director or as member of a Local Board until the expiry of the term for which his appointment was made. 11. Certain words omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949). 12. Subs. by Act 51 of 1974, s. 7, for "under this sub-section" (w.e.f. 13-12-1974). 13. The words "or Burman" omitted by Act 11 of 1947, s. 12 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937. 14. The words, brackets, letters and figures "sub-clauses (a) and (b) of clause (2) or sub-clause (a) or (b) of clause (3) or clause (4) of" omitted by Act 51 of 1974, s. 7 (w.e.f. 13-12-1974). 15. Subs. by s. 7, ibid ., for clause (1) (w.e.f. 13-12-1974). 16. Clause (2) omitted by Act 24 of 1978, s. 5 (w.e.f. 21-7-1978). 17. Subs. by Act 51 of 1974, s. 7, for clause (3) (w.e.f. 13-12-1974). 18. The proviso omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949). 19. Sub-section (2) omitted by Act 51 of 1974, s. 7 (w.e.f. 13-12-1974). 1 — [ 18A. Validity of loan or advance not to be questioned. Notwithstanding anything to the — contrary contained in any other law for the time being in force, (a) the validity of any loan or advance granted by the Bank in pursuance of the provisions of this Act shall not be called in question merely on the ground of non-compliance with the requirements of such other law as aforesaid or of any resolution, contract, memorandum, articles of association or other instrument: (5) The[7] * nomination[8] * as Director or member of a Local Board of any person who is a member of[9] [Parliament or the Legislature[10] [of any State]] shall be void, unless within two months of the date of his[7] * nomination[8] * he ceases to be such member, and if any Director or member of a Local Board is elected or nominated as a member of[11] [Parliament or any such Legislature], he shall cease to be a Director or member of the Local Board as from the date of such election or nomination, as the case may be. (6) A Director may resign his office to the[3] [Central Government], and a member of a Local Board may resign his office to the Central Board, and on the acceptance of the resignation the office shall become vacant. 11. "BalliaKshetriyaGramin Bank, Ballia (Uttar Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 11379/3.5.100/2010-11, dated 31st March, 2011. Provided that nothing in this clause shall render valid any loan or advance obtained by any company or co-operative society where such company or co-operative society is not empowered by its memorandum to obtain loans or advances; (b) where a loan or advance has been granted under clause (3A) or under clause (3B) or section 17 or a loan or advance granted under clause (3) of section 18 by the Bank to any person has been applied by such person, wholly or in part, in making a loan or advance to any borrower, any sum received — (i) by the borrowing bank on account of bills of exchange in respect of which the declaration under clause (i) of the proviso to clause (3A) of section 17 has been furnished or in repayment or realisation of the outstanding loans and advances referred to in clause (ii) of the said proviso or in the proviso to clause (3B) of the said section, or (ii) by the borrowing bank or any other person in repayment or realisation of loans and advances granted to a borrower out of funds obtained by it or by him from the Bank under section 18, shall be utilised only for the repayment by the borrowing bank or other person, as the case may be, of the amounts due to be repaid by it or by him to the Bank, and shall be held by it or by him in trust for the Bank, until such time as the amounts are so repaid.] 11. "BastarKshetriyaGramin Bank, Jagdalpur, Chhatisgarh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 2009. 11. "BijapurGrameena Bank, Bijapur (Karnataka)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008. 11. "ChamparanKshetriyaGramin Bank, Motihari (Bihar)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010. 11. "Credit Lyonnais Bank" excluded by Notification No. Ret. BC. No. 1/12.06.115/2004-05, dated 6th July, 2004. 11. "FaizabadKshetriyaGramin Bank, Faizabad, Uttar Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 2009. 11. "Gorakhpur KshetriyaGramin Bank, Gorakhpur, Uttar Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 2009. 11. "KissanGramin Bank, Budaun, Uttar Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 2009. 11. "Madhya Bharat Gramin Bank, Sagar, Madhya Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 56/03.05.100/2013-14, dated 14th November, 2013. Earlier it was included by RBI Notification No. RPCD.CO. RRB. No. 3231/03.05.100/2008-09, dated 22nd September, 2008. 11. Included by RBI Notification No. RPCD.CO. RRB. BC. No. 76/03.05.100/2013-14, dated 27th January, 2014. 11. Included by RBI Notification No. DBR.IDB. No. 5196/23.03.030/2015-16, dated 26th October, 2015. 11. "PatliputraGramin Bank, Patna (Bihar)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008. 11. "RaigarhKshetriyaGramin Bank, Raigarh, Madhya Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 2009. 11. "SahyadriGramin Bank, Shimoga (Karnataka)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008. 12. "SamastipurKshetriyaGramin Bank, Samastipur, Bihar" excluded by RBI Notification No. RPCD.CO. RRB. No. 56/03.05.100/2013-14, dated 14th November, 2013. 11. "ShekhawatiGramin Bank, Sikar (Rajasthan)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/200809, dated 22nd September, 2008. 11. "Sri VisakhaGrameena Bank, Srikakulam (Andhra Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008. 11. "Thar-AnchalikGramin Bank, Jodhpur (Rajasthan)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008. 12. Subs. by RBI Notification No. UBD.CO. BPD. 2/16.05.000/2011-12, dated 3rd November, 2011, for "Thane JanataSahakari Bank Ltd., Thane". 1* * * * * 2* * * * * 3* * * * * 4* * * * * 5* * * * * Union Bank of India. United Bank of India. United Commercial Bank. United Industrial Bank Ltd., Calcutta. 6[United Overseas Bank Ltd.] 7* * * * * 8[UtkalGrameen Bank, Bolangir.] 9* * * * * Uttar BangaKshetriyaGramin Bank, Cooch Behar (West Bengal). 10[Uttar Pradesh Gramin Bank, Muzaffarpur (Bihar)]. Uttar Pradesh State Co-operative Bank Ltd., Lucknow. 11[UttarakhandGramin Bank, Dehradun, Uttarakhand.] 12* * * * * 13* * * * * 14* * * * * 15* * * * * 10[VananchalGramin Bank, Dumka (Jharkhand)]. 11. Included by RBI Notification No. RPCD.CO. RRB. No. 55/03.05.100/2013-14, dated 14th November, 2013. 11. Included by RBI Notification No. DBOD.IBD. No. 8297/23.13.138/2012-13, dated 10th December, 2012.