The Regional Rural Banks Act, 1976

Sections

1. I — PRELIMINARY
2. 1Short title, extent and commencement
3. 2Definitions
4. II — INCORPORATION AND CAPITAL OF REGIONAL RURAL BANKS
5. 3Establishment and incorporation of Regional Rural Banks
6. III — MANAGEMENT
7. 4Proviso ins. by s. 8, ibid . (w.e.f. 28-9-1988)
8. II — INCORPORATION AND CAPITAL OF REGIONAL RURAL BANKS
9. 5Authorised capital
10. 6Issued capital
11. 7Shares to be approved securities
12. III — MANAGEMENT
13. 8Management
14. 9Board of directors
15. 11Chairman
16. 12Disqualifications
17. 13Vacation of the seat of directors
18. 14Meetings of Board
19. 15Committees of Board
20. 16Fees and allowances of directors and members of committees
21. 17Staff of Regional Rural banks
22. IV — BUSINESS OF A REGIONAL RURAL BANK
23. 18Business which a Regional Rural Bank may transact
24. V — ACCOUNTS AND AUDIT
25. 19Closure of accounts
26. 20Annual report to be furnished to the shareholders
27. 21Disposal of profits
28. 22Regional Rural Bank to be deemed to be a co-operative society for purpose of the Income-tax Act, 1961
29. 23Interest-tax not payable
30. 23AAmalgamation of Regional Rural Banks
31. 23BNotification under section 23A to be sufficient notice to concerned parties
32. 23CCessation of business of transferor Regional Rural Banks
33. 23DLiquidation of Regional Rural Banks
34. VI — MISCELLANEOUS
35. 24Power of Central Government to give directions
36. 24AInspection, audit and scrutiny by the Sponsor Bank
37. 25Obligations as to fidelity and secrecy
38. 26Bar to liquidation of Regional Rural Bank
39. 27Defects in appointment or constitution not to invalidate acts or proceedings
40. 28Indemnity of directors, etc
41. 29Power to make rules
42. 30Power to make regulations
43. 31Removal of difficulties
44. 32Act to override the provisions of other laws