(1) This Ordinance may be called the Regional Rural Banks Ordinance, 1975.
(2) It extends to the whole of India.
(3) It shall come into forte at once.
2. In this Ordinance, unless the context otherwise requires,—
(a) "Board", in relation to a Regional Rural Bank, means the Board of directors of that Regional Rural Bank;
(b) "Chairman", in relation to a Regional Rural Bank, means the individual appointed or re-appointed under sub-section (1) of section 11 as the Chairman of that Bank;
(c) "director", in relation to a Regional Rural Bank, means a member of the Board of that bank, but does not include the Chairman;
(d) "notified area" means the local limits, specified under subsection (1) of section 3, within which a Regional Rural Bank shall operate;
(e) "prescribed" means prescribed by rules made under this Ordinance;
(f) "Regional Rural Bank" means a Regional Rural Bank established under sub-section (1) of section 3;
(SO "Sponsor Bank", in r-elation to a Regional Rural Bank, means a bank by which such Regional Rural Bank has been sponsored;
(h) "Statei Government" means,—
(i) in relation to a Regional Rural Bank established in a Union territory, the Central Government;
(ii) in relation to a Regional Rural Bank established in a State, the Government of that State;
(i) words and expressions used herein and not denned but defined in the Reserve Bank of India Act, 1934, shall have the meanings respectively assigned to them in that Act;
(j) worlds and expressions used herein and not defined either in this Ordinance or in the Reserve Bank of India Act, 1934, but defined in the Banking Regulation Act, 1949, shall have the meanings respectively assigned to them in the Banking Regulation Act
1949.
2 of 1934.
10 of 1949.
Short title, extent and commencement.
Deflnitionu.
SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 649
CHAPTER II INCOKF ORATION AND CAPITAL OF REGIONAL RURAL BANKS