View All - 1985 Acts
Section No :  
Acts & Ordinances
REGIONAL RURAL DEVELOPMENT BANKS
Marginal Notes
1. This Act may be cited as the Regional Rural Development Banks Act, No. 15 of 1985.
2. Incorporation Order for establishment of a Regional Rural Development Bank.
3. Principal place of business, branches and agencies of the Bank.
4. Objects of the Bank.
5. Transaction of business of the Bank.
6. Powers of the Bank.
7. Management.
8. Constitution of the Board.
9. Disqualifications for being appointed or exceed or continuing as a member.
10. Chairman of the Board.
11. Remuneration of Directors.
12. Director to disclose interest in contract proposed to be made by the Bank.
13. Meetings' of the Board, quorum and regulation of procedure.
14. Acts of the Board not to be invalid by reason of any vacancy.
15. Delegation of powers and duties of the Board.
16. Seal of the Bank.
17. General body of the Bank.
18. Training of banking and technical personnel.
19. Capital of the Bank.
20. Contributions to the capital of the Bank.
21. Grant from the Central Bank.
22. Temporary borrowings from the Central Bank.
23. Borrowings from the Government.
24. Borrowings from the foreign Governments &c.
25. General Reserve Fund.
26. Special Reserve Fund.
27. Staff Development Fund.
28. Special Resources Fund.
29. Reserve requirements.
30. Exemption of Bank from income tax.
31. Security on which loans maybe granted by the Bank.
32. Chairman to be the Chief Executive Officer Of the Bank.
33. Staff of the Bank.
34. Applicability of the State Mortgage and Investment Bank Law. No, 13 of 1975.
35. Financial year of the Bank.
36. Audit.
37. Dissolution of the Bank.
38. Application of the provisions of the National Savings Bank Act, No. 30 of 1971.
39. Certain written laws not to apply to the Bank.
40. Application of the provisions of the Companies Act, No. 17 of 1982.
41. The Bank deemed to be an approved credit agency.
42. Exempt from stamp duty.
43. Opening of Accounts.
44. Indemnity of directors &c.
45. Declaration of secrecy.
46. Monetary Board to give directions.
47. Provision for conflict with other written law.
48. Rules.
49. Interpretation.