Lawzonline.com

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