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Section 16: Fees and allowances of directors and members of committees.

The Regional Rural Banks Act, 1976Central Act · Act 21 of 1976

(1) Every director and every member of a committee (other than the Chairman) shall be paid such fees and allowances as may be determined by the Central Government:

Provided that no fees shall be paid to any director, or member of a committee, if he is an officer of the Central Government, State Government, the Reserve Bank, [National Bank,] Sponsor Bank or any other bank.

(2) The allowances payable to a director or a member of a committee, who is an officer of the Central Government, State Government, Reserve Bank, [National Bank,] Sponsor Bank or any other bank, shall be paid by the Government or bank by which such officer is employed; and the allowances and fees payable to any other director or member of a committee shall be payable by the concerned Regional Rural Bank.

Where this provision sits

ActThe Regional Rural Banks Act, 1976
Section16
Marginal noteFees and allowances of directors and members of committees.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 1 of 1988. Ins. by Act 1 of 1988, s. 10 (w.e.f. 28-9-1988).

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