The Regional Rural Banks Act, 1976
Central Act · Act 21 of 197637 provisions2 citing judgments
The enactment
| Long title | 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. |
|---|---|
| Type | Act |
| Citation | Act 21 of 1976 |
| Year | 1976 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 37 |
| Subjects | financial, agriculture |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Establishment and incorporation of Regional Rural Banks.2 citing judgments
- Section 4 Offices and agencies.
- Section 5 Authorised capital.
- Section 6 Issued capital.
- Section 7 Shares to be approved securities.
- Section 8 Management.
- Section 9 Board of directors.
- Section 10 Term of office of director.
- Section 11 Chairman.
- Section 12 Disqualifications.
- Section 13 Vacation of the seat of directors.
- Section 14 Meetings of Board.
- Section 15 Committees of Board.
- Section 16 Fees and allowances of directors and members of committees.
- Section 17 Staff of Regional Rural Banks.
- Section 18 Business which a Regional Rural Bank may transact.
- Section 19 Closure of accounts.
- Section 20 Annual report to be furnished to the shareholders.
- Section 21 Disposal of profits.
- Section 22 Regional Rural Bank to be deemed to be a co-operative society for purpose of the Income-tax Act, 1961.
- Section 23 Interest-tax not payable.
- Section 23A Amalgamation of Regional Rural Banks.
- Section 23B Notification under section 23A to be sufficient notice to concerned parties.
- Section 23C Cessation of business of transferor Regional Rural Banks.
- Section 23D Liquidation of Regional Rural Banks.
- Section 24 Power of Central Government to give directions.
- Section 24A Inspection, audit and scrutiny by the Sponsor Bank.
- Section 25 Obligations as to fidelity and secrecy.
- Section 26 Bar to liquidation of Regional Rural Bank.
- Section 27 Defects in appointment or constitution not to invalidate acts or proceedings.
- Section 28 Indemnity of directors, etc.
- Section 29 Power to make rules.
- Section 30 Power to make regulations.
- Section 31 Removal of difficulties.
- Section 32 Act to override the provisions of other laws.
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
- Search 49,000+ Central and State enactments by what a provision says, not by its number
- Jump from any section to every judgment that has applied it
- Search 300 million+ Indian court records alongside the statute
- Ask a research agent to find and read the case law on a provision for you
Free account. No card. About a minute to create.
Create a free accountNeed this as data, not as a page? The Regional Rural Banks Act, 1976 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.